Enbridge Inc. (TSE:ENB) Stock Has Average Target Price of C$77.62

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been given an average rating of “Moderate Buy” by the thirteen analysts that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$77.62.

Several research analysts recently commented on the company. National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$81.00 to C$82.00 in a report on Tuesday, September 15th. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Raymond James Financial lifted their price objective on Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a research note on Tuesday, September 15th. Jefferies Financial Group decreased their price objective on Enbridge from C$79.00 to C$70.00 in a research note on Tuesday, September 1st. Finally, Scotiabank upgraded shares of Enbridge to a “strong-buy” rating in a research note on Thursday, September 17th.

Enbridge Stock Down 1.0%

Shares of TSE ENB opened at C$67.33 on Tuesday. The stock has a market cap of C$150.07 billion, a P/E ratio of 26.00, a PEG ratio of 1.72 and a beta of 0.74. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. Enbridge has a 12-month low of C$62.42 and a 12-month high of C$80.65. The business’s fifty day simple moving average is C$67.62 and its 200-day simple moving average is C$72.48.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were paid a $0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 5.8%. Enbridge’s payout ratio is currently 147.68%.

Insider Activity at Enbridge

In other news, Director Gregory Lorne Ebel purchased 7,105 shares of the stock in a transaction on Monday, September 14th. The stock was bought at an average price of C$66.85 per share, for a total transaction of C$474,969.25. Following the acquisition, the director directly owned 589,721 shares of the company’s stock, valued at approximately C$39,422,848.85. The trade was a 1.22% increase in their position. Also, insider Michele Eva Harradence acquired 7,105 shares of the company’s stock in a transaction on Monday, September 14th. The stock was purchased at an average cost of C$67.28 per share, for a total transaction of C$478,024.40. Following the completion of the transaction, the insider owned 87,467 shares in the company, valued at approximately C$5,884,779.76. The trade was a 8.84% increase in their position. Insiders own 0.10% of the company’s stock.

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.