Enbridge (TSE:ENB) Sets New 1-Year High - Should You Buy?

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB hit a new 52-week high on Thursday . The company traded as high as C$60.14 and last traded at C$59.96, with a volume of 143775 shares. The stock had previously closed at C$59.53.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. National Bankshares increased their target price on Enbridge from C$53.00 to C$57.00 and gave the company a "sector perform" rating in a report on Friday, August 23rd. Barclays lifted their target price on Enbridge from C$54.00 to C$59.00 in a report on Monday. CIBC boosted their target price on Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Wells Fargo & Company raised Enbridge from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$57.54.

Enbridge Stock Up 1.8 %

The stock's fifty day simple moving average is C$56.25 and its 200-day simple moving average is C$52.45. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The stock has a market capitalization of C$132.09 billion, a PE ratio of 23.12, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 6.04%. The ex-dividend date is Friday, November 15th. Enbridge's dividend payout ratio is currently 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by corporate insiders.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.