Analysts Set Enbridge Inc. (TSE:ENB) Price Target at C$76.00

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$76.00.

Several research firms have commented on ENB. TD lifted their price objective on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research note on Thursday, June 25th. National Bank Financial increased their target price on shares of Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Barclays raised their target price on shares of Enbridge from C$68.00 to C$73.00 in a report on Tuesday, April 7th. Royal Bank Of Canada lifted their price target on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Raymond James Financial upped their price target on shares of Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a report on Monday, May 11th.

Insider Buying and Selling

In other news, insider Melissa Marie Laforge sold 855 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total value of C$68,536.80. Following the sale, the insider directly owned 7,904 shares in the company, valued at approximately C$633,584.64. This represents a 9.76% decrease in their ownership of the stock. Also, Director Mayank Mulraj Ashar sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total value of C$390,400.00. Following the sale, the director directly owned 45,000 shares of the company’s stock, valued at C$3,513,600. This represents a 10.00% decrease in their ownership of the stock. In the last ninety days, insiders have sold 8,855 shares of company stock worth $695,547. Insiders own 0.10% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at C$78.03 on Friday. The stock has a market cap of C$170.39 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.73. The company has a debt-to-equity ratio of 168.58, a quick ratio of 0.44 and a current ratio of 0.81. The stock has a 50 day moving average price of C$78.18 and a 200-day moving average price of C$73.93. Enbridge has a one year low of C$61.33 and a one year high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. The firm had revenue of C$22.36 billion for the quarter. Enbridge had a return on equity of 11.11% and a net margin of 9.43%. Equities analysts expect that Enbridge will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is 128.73%.

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.