Enbridge (TSE:ENB) Sets New 52-Week High - Time to Buy?

Key Points

• Enbridge shares hit a new 52‑week high of C$74.42 (last C$74.26) on Friday with about 1.52M shares traded, and analysts are mixed but show a consensus Moderate Buy with an average target of C$73.31 and several recent upgrades to C$77–78.
• The company raised its quarterly dividend to C$0.97 (C$3.88 annualized) for a yield of 5.2%, but the dividend payout ratio is a high 117%, suggesting the payout may exceed underlying earnings.
• Key fundamentals include a market cap of C$162.04B, a PE of 23.1, recent quarterly EPS of C$0.88 on C$17.18B revenue, and a very high debt‑to‑equity ratio (~170.9), indicating material leverage risk.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB reached a new 52-week high during trading on Friday . The stock traded as high as C$74.42 and last traded at C$74.26, with a volume of 1524440 shares traded. The stock had previously closed at C$73.12.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. ATB Cormark Capital Markets increased their price target on shares of Enbridge from C$72.00 to C$78.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce cut their target price on Enbridge from C$71.00 to C$69.00 in a research note on Wednesday, December 17th. Scotiabank raised their price target on 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. downgraded Enbridge from an "overweight" rating to a "neutral" rating and decreased their price target for the company from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. Finally, BMO Capital Markets upped their price objective on Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of "Moderate Buy" and an average target price of C$73.31.

Enbridge Trading Up 1.6%

The company has a quick ratio of 0.44, a current ratio of 0.63 and a debt-to-equity ratio of 170.86. The business's fifty day moving average is C$68.60 and its 200 day moving average is C$67.44. The stock has a market cap of C$162.04 billion, a PE ratio of 23.07, a P/E/G ratio of 1.72 and a beta of 1.00.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Sunday, March 1st were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 5.2%. This is a positive change from Enbridge's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, February 17th. Enbridge's dividend payout ratio is currently 117.08%.

About Enbridge

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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