Enbridge (TSE:ENB) Sets New 52-Week High - What's Next?

Key Points

• Enbridge Inc. shares reached a new 52-week high of C$67.35 and last traded at C$66.98, indicating strong trading activity with over 3.5 million shares exchanged.
• Analysts have shown confidence in Enbridge, with several upgrading price targets and ratings; the stock currently holds a consensus rating of "Moderate Buy" with a target price of C$67.07.
• The company recently declared a quarterly dividend of $0.9425, which translates to an annualized dividend yield of 5.6%, despite a high payout ratio of 130.81%.

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB reached a new 52-week high on Wednesday . The company traded as high as C$67.35 and last traded at C$66.98, with a volume of 3527585 shares trading hands. The stock had previously closed at C$66.75.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating and lifted their price objective for the company from C$65.00 to C$72.00 in a research note on Wednesday, July 23rd. Argus upgraded Enbridge to a "strong-buy" rating in a research note on Tuesday, August 12th. ATB Capital lifted their price objective on Enbridge from C$66.00 to C$67.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, National Bankshares lifted their price objective on Enbridge from C$64.00 to C$65.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$67.07.

Enbridge Trading Down 0.7%

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 company has a 50 day moving average of C$64.22 and a two-hundred day moving average of C$63.07. The stock has a market cap of C$147.18 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Monday, September 1st were paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, August 15th. 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.