Enbridge (TSE:ENB) Upgraded to Outperform at Scotiabank

Scotiabank upgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) from a sector perform rating to an outperform rating in a report published on Friday, Marketbeat.com reports. Scotiabank currently has C$73.00 target price on the stock, up from their previous target price of C$70.00.

Several other brokerages have also issued reports on ENB. BMO Capital Markets boosted their target price on Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. ATB Capital set a C$72.00 target price on Enbridge and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. CIBC cut their price target on shares of Enbridge from C$71.00 to C$69.00 in a report on Wednesday, December 17th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Barclays upped their target price on shares of Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$71.50.

Enbridge Trading Up 1.7%

Shares of ENB stock opened at C$66.17 on Friday. The company has a market cap of C$144.45 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a 1 year low of C$56.51 and a 1 year high of C$70.39. The stock’s 50 day simple moving average is C$65.88 and its two-hundred day simple moving average is C$65.58. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The company reported C$0.46 earnings per share (EPS) for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%.The company had revenue of C$14.64 billion during the quarter. Research analysts predict that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were paid a $0.9425 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a yield of 5.7%. Enbridge’s payout ratio is 146.76%.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.