JPMorgan Chase & Co. Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by JPMorgan Chase & Co. from C$60.00 to C$66.00 in a report issued on Thursday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on the stock. CIBC boosted their price target on shares of Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Royal Bank of Canada boosted their price objective on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Raymond James boosted their price objective on shares of Enbridge from C$54.00 to C$59.00 in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets boosted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$58.00.

Enbridge Price Performance

Shares of TSE ENB opened at C$60.79 on Thursday. Enbridge has a 1 year low of C$45.05 and a 1 year high of C$60.82. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The company’s 50-day moving average is C$56.78 and its 200 day moving average is C$52.84. The stock has a market capitalization of C$132.52 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.02%. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.