Enbridge Inc. (TSE:ENB) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Enbridge Inc. has received an average analyst rating of "Moderate Buy", with four analysts recommending a hold and seven a buy, setting a twelve-month price target of C$67.07.
• The company declared a quarterly dividend of $0.9425 per share, with an annual yield of 5.8%, despite a high dividend payout ratio of 118.98%.
• Recent upgrades from analysts include Echelon Wealth Partners raising the price target to C$74.00 and Jefferies Financial Group moving from a "hold" to a "buy" rating with a target of C$72.00.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB have been assigned an average rating of "Moderate Buy" from the eleven analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$67.07.

A number of equities research analysts have recently issued reports on the company. Echelon Wealth Partners boosted their price objective on Enbridge from C$67.00 to C$74.00 in a report on Wednesday, April 23rd. National Bankshares boosted their price objective on Enbridge from C$64.00 to C$65.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 5th. BMO Capital Markets boosted their price objective on Enbridge from C$60.00 to C$63.00 in a report on Monday, May 12th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating and boosted their price objective for the stock from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. Finally, ATB Capital lifted their price target on shares of Enbridge from C$66.00 to C$67.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th.

Enbridge Trading Down 0.1%

Enbridge stock opened at C$64.69 on Friday. Enbridge has a 52 week low of C$52.76 and a 52 week high of C$65.62. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The stock has a market capitalization of C$140.20 billion, a P/E ratio of 21.03, a PEG ratio of 1.72 and a beta of 0.90. The stock has a 50-day simple moving average of C$62.28 and a 200 day simple moving average of C$62.40.

Enbridge Dividend Announcement

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

Insider Buying and Selling at Enbridge

In related news, Senior Officer Maximilian Chan sold 801 shares of the company's stock in a transaction dated 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 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.

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