Enbridge (TSE:ENB) Hits New 52-Week High - What's Next?

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$62.27 and last traded at C$62.27, with a volume of 201741 shares. The stock had previously closed at C$61.87.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating and boosted their price objective for the company from C$55.00 to C$58.00 in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. BMO Capital Markets raised their price objective on Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Morgan Stanley set a C$64.00 target price on Enbridge and gave the company an "equal weight" rating in a research report on Friday, October 25th. Finally, Scotiabank raised their price target on shares of Enbridge from C$57.00 to C$61.00 in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of "Hold" and a consensus target price of C$60.31.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The firm has a market capitalization of C$135.71 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The firm's 50 day moving average price is C$59.42 and its 200-day moving average price is C$54.94.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a $0.9425 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 6.06%. Enbridge's dividend payout ratio (DPR) is presently 140.77%.

Insider Activity

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Company insiders own 0.10% of the company's stock.

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.