Enbridge Inc. (TSE:ENB) Stock Has Consensus Price Target of C$77.62 According to Brokerages

Key Points

• Enbridge has a “Moderate Buy” consensus rating from 13 analysts, with seven buys, two strong buys and four holds. The average 12-month price target is C$77.62.
• Several brokerages recently became more bullish, including TD Securities and Scotiabank upgrading the stock to “strong buy” and National Bank Financial raising its price target to C$82.00.
• Enbridge insiders purchased shares in September, while the company’s quarterly dividend equates to an annualized C$3.88 per share and a 5.6% yield.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB have been assigned an average rating of "Moderate Buy" from the thirteen research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$77.62.

Several equities analysts have weighed in on ENB shares. TD Securities raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 14th. The Goldman Sachs Group raised Enbridge to a "hold" rating in a research report on Wednesday, September 30th. National Bank Financial upgraded Enbridge from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from C$81.00 to C$82.00 in a report on Tuesday, September 15th. US Capital Advisors upgraded Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Finally, Scotiabank raised Enbridge to a "strong-buy" rating in a research report on Thursday, September 17th.

Insider Transactions at Enbridge

In other Enbridge news, insider Michele Eva Harradence bought 7,105 shares of the company's stock in a transaction dated Monday, September 14th. The shares were bought at an average price of C$67.28 per share, for a total transaction of C$478,024.40. Following the acquisition, the insider directly owned 87,467 shares of the company's stock, valued at approximately C$5,884,779.76. This trade represents a 8.84% increase in their ownership of the stock. Also, Director Gregory Lorne Ebel purchased 7,105 shares of Enbridge stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of C$66.85 per share, with a total value of C$474,969.25. Following the completion of the transaction, the director directly owned 589,721 shares of the company's stock, valued at C$39,422,848.85. This represents a 1.22% increase in their ownership of the stock. 0.10% of the stock is owned by corporate insiders.

Enbridge Stock Performance

Shares of ENB opened at C$68.82 on Tuesday. The company has a 50-day moving average of C$67.70 and a two-hundred day moving average of C$72.44. The stock has a market cap of C$153.39 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.72 and a beta of 0.72. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. Enbridge has a one year low of C$62.42 and a one year high of C$80.65.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last released its quarterly earnings results on Friday, July 31st. The company reported C$0.63 earnings per share (EPS) for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The business had revenue of C$29.32 billion for the quarter. On average, equities research analysts expect that Enbridge will post 3.51 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge's payout ratio is 147.68%.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.

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