Enbridge (TSE:ENB) Price Target Raised to C$67.00

Key Points

• ATB Capital has raised its target price for Enbridge (TSE:ENB) stock from C$66.00 to C$67.00, indicating a potential upside of 4.13% based on the stock's previous close.
• Recent ratings from multiple research firms have shown a strong backing for Enbridge, with Echelon Wealth Partners and Jefferies Financial Group increasing their price targets to C$74.00 and C$72.00, respectively.
• Enbridge shares are showing positive performance, evidenced by a 1.0% increase in stock price, reaching C$64.34 during mid-day trading.

Enbridge (TSE:ENB - Free Report) NYSE: ENB had its price target lifted by ATB Capital from C$66.00 to C$67.00 in a research note published on Tuesday,BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

ENB has been the subject of a number of other research reports. BMO Capital Markets raised their price target on shares of Enbridge from C$60.00 to C$63.00 in a research report on Monday, May 12th. Echelon Wealth Partners raised their price target on shares of Enbridge from C$67.00 to C$74.00 in a research report on Wednesday, April 23rd. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating and raised their price target for the stock from C$65.00 to C$72.00 in a research report on Wednesday, July 23rd. Finally, Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$67.07.

Enbridge Stock Down 0.1%

TSE:ENB traded down C$0.07 during trading hours on Tuesday, hitting C$64.69. The stock had a trading volume of 15,145,466 shares, compared to its average volume of 8,558,505. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. Enbridge has a 1-year low of C$52.76 and a 1-year high of C$65.62. The business has a 50 day simple moving average of C$62.28 and a two-hundred day simple moving average of C$62.40. The company has a market cap of C$140.20 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Monday, September 1st will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is currently 118.98%.

Insider Buying and Selling

In other Enbridge news, Senior Officer Maximilian Chan sold 801 shares of Enbridge stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of C$63.17, for a total value of C$50,599.17. 0.10% of the stock is currently owned by corporate insiders.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company.