Enbridge (TSE:ENB) PT Set at C$75.00 by Citigroup

Citigroup set a C$75.00 target price on Enbridge (TSE:ENB - Free Report) NYSE: ENB in a report issued on Friday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also issued reports on ENB. Jefferies Financial Group upped their price target on Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th. TD Securities raised their target price on shares of Enbridge from C$66.00 to C$67.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on shares of Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Barclays lifted their target price on shares of Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$64.14.

Enbridge Price Performance

Shares of Enbridge stock traded up C$0.25 during midday trading on Friday, reaching C$58.92. The company had a trading volume of 10,213,233 shares, compared to its average volume of 8,821,279. The stock has a fifty day simple moving average of C$61.97 and a 200 day simple moving average of C$60.25. Enbridge has a 1-year low of C$45.39 and a 1-year high of C$65.62. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The company has a market capitalization of C$127.69 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Friday, February 14th. This is a boost from Enbridge's previous quarterly dividend of $0.92. Enbridge's payout ratio is 118.98%.

Insider Activity at Enbridge

In other news, Senior Officer Michele Eva Harradence bought 5,857 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of C$62.53 per share, with a total value of C$366,238.21. Also, Senior Officer Matthew Allan Akman purchased 1,000 shares of Enbridge stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of C$61.24 per share, with a total value of C$61,240.00. 0.10% of the stock is owned by insiders.

About Enbridge

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.