Jefferies Financial Group upgraded shares of Enbridge (TSE:ENB - Free Report) NYSE: ENB from a hold rating to a buy rating in a report issued on Wednesday morning,BayStreet.CA reports. The firm currently has C$72.00 target price on the stock, up from their prior target price of C$65.00.
A number of other equities analysts also recently issued reports on ENB. Echelon Wealth Partners increased their price target on Enbridge from C$67.00 to C$74.00 in a research report on Wednesday, April 23rd. Citigroup set a C$75.00 price target on Enbridge and gave the company a "buy" rating in a report on Friday, April 4th. BMO Capital Markets lifted their price target on Enbridge from C$60.00 to C$63.00 in a report on Monday, May 12th. Finally, Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$66.50.
Check Out Our Latest Report on ENB
Enbridge Stock Down 0.6%
Shares of ENB traded down C$0.36 during midday trading on Wednesday, reaching C$61.67. 8,578,712 shares of the stock were exchanged, compared to its average volume of 8,552,076. Enbridge has a 52 week low of C$50.32 and a 52 week high of C$65.62. 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 company's 50 day moving average is C$62.24 and its two-hundred day moving average is C$62.42. The company has a market capitalization of C$133.65 billion, a P/E ratio of 20.05, a PEG ratio of 1.72 and a beta of 0.90.
Enbridge Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Sunday, June 1st were issued a $0.9425 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.77 annualized dividend and a dividend yield of 6.11%. Enbridge's dividend payout ratio (DPR) is presently 118.98%.
Insider Buying and Selling at Enbridge
In related news, Senior Officer Maximilian Chan sold 801 shares of Enbridge stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of C$63.17, for a total value of C$50,599.17. 0.10% of the stock is currently owned by corporate insiders.
About Enbridge
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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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