Enbridge (TSE:ENB) Price Target Raised to C$66.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective hoisted by CIBC from C$63.00 to C$66.00 in a report published on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and upped their price objective for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. BMO Capital Markets increased their price target on shares of Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Barclays lifted their price objective on shares of Enbridge from C$59.00 to C$64.00 in a research report on Monday. Royal Bank of Canada increased their target price on shares of Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Finally, Scotiabank upped their price objective on Enbridge from C$57.00 to C$61.00 in a research note on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$61.33.

Enbridge Price Performance

Enbridge stock opened at C$62.99 on Thursday. The stock has a market cap of C$137.32 billion, a P/E ratio of 24.23, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The company’s 50 day moving average price is C$60.00 and its two-hundred day moving average price is C$55.44. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$63.40.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 5.99%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is currently 140.77%.

Insider Transactions at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. Corporate insiders own 0.10% of the company’s stock.

About Enbridge

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.