Enbridge (TSE:ENB) Raised to "Strong-Buy" at Argus

Key Points

• Enbridge has received a rating upgrade to "strong-buy" from Argus, signaling increased investor confidence in the stock.
• Several other analysts have also raised their ratings and price targets, with a current average target price of C$67.07 for the stock.
• As of Tuesday, Enbridge shares opened at C$65.64, reflecting recent upward movement in stock performance.

Argus upgraded shares of Enbridge (TSE:ENB - Free Report) NYSE: ENB to a strong-buy rating in a report issued on Tuesday, August 12th,Zacks.com reports.

Several other research analysts have also recently commented on ENB. ATB Capital boosted their price target on Enbridge from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Echelon Wealth Partners raised their target price on Enbridge from C$67.00 to C$74.00 in a research report on Wednesday, April 23rd. BMO Capital Markets increased their price objective on Enbridge from C$60.00 to C$63.00 in a report on Monday, May 12th. Finally, National Bankshares raised their target price on Enbridge from C$64.00 to C$65.00 and gave the company a "sector perform" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and an average target price of C$67.07.

Enbridge Price Performance

TSE ENB traded up C$0.70 during mid-day trading on Tuesday, hitting C$65.14. The stock had a trading volume of 2,953,385 shares, compared to its average volume of 8,691,332. The company has a 50 day simple moving average of C$62.45 and a 200 day simple moving average of C$62.44. The company has a market cap of C$141.17 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. Enbridge has a 52-week low of C$52.90 and a 52-week high of C$66.58.

Enbridge Announces Dividend

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

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.