Enbridge (TSE:ENB) Reaches New 52-Week High on Analyst Upgrade

Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from C$60.00 to C$66.00. The stock traded as high as C$60.82 and last traded at C$60.79, with a volume of 12840480 shares trading hands. The stock had previously closed at C$59.82.

Other equities analysts also recently issued research reports about the company. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Raymond James lifted their price target on Enbridge from C$54.00 to C$59.00 in a report on Tuesday, October 22nd. Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets boosted their target price on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$58.00.

Insider Activity at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. 0.10% of the stock is owned by insiders.

Enbridge Stock Up 1.6 %

The business has a 50-day simple moving average of C$56.78 and a 200-day simple moving average of C$52.84. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The company has a market cap of C$132.52 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 dividend on an annualized basis and a yield of 6.02%. Enbridge’s dividend payout ratio is currently 140.77%.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.