Enbridge (TSE:ENB) Reaches New 12-Month High - Still a Buy?

Key Points

• Enbridge Inc. shares reached a new **52-week high** at C$69.72, closing at C$69.11 with a strong trading volume of approximately **2.72 million shares**.
• Analyst upgrades include a **strong-buy** rating from Argus and price target increases from various firms, resulting in a consensus price target of **C$67.07** and a consensus rating of **Moderate Buy**.
• The company declared a quarterly dividend of **$0.9425**, representing an annualized dividend of **$3.77** and a yield of **5.5%**, despite a payout ratio of **130.81%**.

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB shares hit a new 52-week high during trading on Thursday . The company traded as high as C$69.72 and last traded at C$69.11, with a volume of 2719935 shares changing hands. The stock had previously closed at C$69.48.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ENB shares. Argus raised Enbridge to a "strong-buy" rating in a research report on Tuesday, August 12th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. National Bankshares raised their price objective on shares of Enbridge from C$64.00 to C$65.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 5th. Finally, ATB Capital raised their price target on shares of Enbridge from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. One research 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. According to MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus target price of C$67.07.

Enbridge Price Performance

The stock has a market cap of C$150.70 billion, a PE ratio of 24.33, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The firm's 50 day moving average price is C$65.35 and its two-hundred day moving average price is C$63.44.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Monday, September 1st were given a $0.9425 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.77 annualized dividend and a dividend yield of 5.5%. Enbridge's payout ratio is 130.81%.

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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