Enbridge (TSE:ENB) Sets New 12-Month High - What's Next?

Key Points

• Enbridge Inc. reached a new 52-week high, trading at C$68.82, with significant volume of over 6 million shares.
• Multiple analysts upgraded their ratings for Enbridge, with a consensus rating of "Moderate Buy" and a price target averaging around C$67.07.
• Enbridge declared a quarterly dividend of $0.9425, reflecting an annualized dividend yield of 5.5% and a payout ratio of 130.81%.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$68.82 and last traded at C$68.04, with a volume of 6085622 shares. The stock had previously closed at C$67.78.

Wall Street Analysts Forecast Growth

ENB has been the subject of several analyst reports. Argus upgraded Enbridge to a "strong-buy" rating in a report on Tuesday, August 12th. ATB Capital upped their target price on Enbridge from C$66.00 to C$67.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. National Bankshares raised their price target 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. Finally, Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating and boosted their price target for the stock from C$65.00 to C$72.00 in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$67.07.

Enbridge Stock Performance

The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm's fifty day moving average price is C$65.06 and its two-hundred day moving average price is C$63.37. The stock has a market capitalization of C$148.28 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

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

About Enbridge

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.