Raymond James Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its target price hoisted by Raymond James from C$59.00 to C$63.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

A number of other research firms also recently issued reports on ENB. CIBC boosted their price target on Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Barclays boosted their target price on Enbridge from C$54.00 to C$59.00 in a report on Monday, November 11th. BMO Capital Markets raised their price target on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$58.31.

Enbridge Stock Up 0.1 %

Shares of ENB opened at C$60.06 on Tuesday. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$61.09. The company’s fifty day moving average is C$57.10 and its two-hundred day moving average is C$53.01. The firm has a market cap of C$130.93 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is 140.77%.

Insider Activity at Enbridge

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

Enbridge Company Profile

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.