Enbridge (TSE:ENB) Hits New 52-Week High – Still a Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during trading on Tuesday . The company traded as high as C$75.72 and last traded at C$75.39, with a volume of 1603872 shares trading hands. The stock had previously closed at C$74.35.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of recent research reports. Raymond James Financial raised their price target on Enbridge from C$75.00 to C$77.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating and lowered their price target for the company from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. ATB Cormark Capital Markets raised their price objective on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. Finally, Scotiabank boosted their target price on shares of Enbridge from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$73.31.

Enbridge Trading Up 0.8%

The company has a fifty day simple moving average of C$70.04 and a two-hundred day simple moving average of C$67.84. The company has a market capitalization of C$163.54 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The company has a debt-to-equity ratio of 170.86, a current ratio of 0.63 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last released 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 return on equity of 12.34% and a net margin of 11.50%. On average, analysts forecast that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Sunday, March 1st were issued a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 5.2%. Enbridge’s dividend payout ratio is presently 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.