Enbridge (TSE:ENB) Reaches New 1-Year High - Should You Buy?

Key Points

• Enbridge stock hit a new 52-week high, trading as high as C$76.48 (last C$76.32) on volume of 327,126 shares, up about 1.5%.
• Analyst views are mixed but the consensus is a Moderate Buy with an average target of C$73.31, while some brokers raised targets and others downgraded, leaving the consensus target below the current price.
• Enbridge reported Q results (EPS C$0.88, revenue C$17.18B) and raised its quarterly dividend to C$0.97 (annualized C$3.88) for a 5.0% yield

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB's stock price reached a new 52-week high on Monday . The stock traded as high as C$76.48 and last traded at C$76.32, with a volume of 327126 shares trading hands. The stock had previously closed at C$75.83.

Analysts Set New Price Targets

Several brokerages have commented on ENB. TD Securities downgraded Enbridge from a "buy" rating to a "hold" rating and boosted their target price for the stock from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. BMO Capital Markets raised their price target on shares of Enbridge from C$67.00 to C$70.00 in a research note on Thursday, December 4th. Scotiabank lifted their price target on shares of Enbridge from C$73.00 to C$77.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. cut shares of Enbridge from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Enbridge from C$72.00 to C$76.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and an average target price of C$73.31.

Enbridge Stock Up 1.5%

The firm has a 50-day simple moving average of C$70.86 and a 200 day simple moving average of C$68.07. The stock has a market capitalization of C$168.00 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.72 and a beta of 1.00. The company has a debt-to-equity ratio of 170.86, a current ratio of 0.63 and a quick ratio of 0.44.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last released its quarterly earnings results on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. Enbridge had a return on equity of 12.34% and a net margin of 11.50%.The company had revenue of C$17.18 billion for the quarter. On average, equities research analysts forecast that Enbridge Inc. will post 3.511912 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Sunday, March 1st were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Enbridge's previous quarterly dividend of $0.94. Enbridge's payout ratio is presently 117.08%.

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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