Enbridge (TSE:ENB) Price Target Raised to C$84.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by ATB Cormark Capital Markets from C$83.00 to C$84.00 in a research report sent to investors on Tuesday morning,BayStreet reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Raymond James Financial upped their target price on shares of Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a research note on Tuesday. Jefferies Financial Group cut their target price on shares of Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. Canadian Imperial Bank of Commerce raised shares of Enbridge from a “hold” rating to an “outperformer” rating and lifted their price target for the stock from C$77.00 to C$78.00 in a research report on Friday, August 28th. Finally, Scotiabank boosted their price target on shares of Enbridge from C$78.00 to C$84.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.62.

Enbridge Stock Up 0.7%

Shares of TSE ENB opened at C$68.18 on Tuesday. Enbridge has a 1 year low of C$62.42 and a 1 year high of C$80.65. The firm’s 50-day moving average is C$72.79 and its 200-day moving average is C$74.66. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. The firm has a market capitalization of C$148.91 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The business had revenue of C$29.32 billion during the quarter. Equities analysts expect that Enbridge will post 3.511912 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.68%.

Enbridge Company Profile

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.