Raymond James upgraded shares of Enbridge (TSE:ENB - Free Report) NYSE: ENB to a moderate buy rating in a research note published on Wednesday morning,Zacks.com reports.
A number of other research firms have also issued reports on ENB. Scotiabank boosted their price objective on Enbridge from C$61.00 to C$65.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Barclays lifted their price objective on shares of Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. Echelon Wealth Partners raised their target price on shares of Enbridge from C$67.00 to C$74.00 in a research note on Wednesday, April 23rd. CIBC raised their target price on shares of Enbridge from C$66.00 to C$67.00 in a research note on Wednesday, March 5th. Finally, Citigroup set a C$75.00 target price on shares of Enbridge and gave the company a "buy" rating in a research note on Friday, April 4th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$65.79.
Check Out Our Latest Stock Analysis on ENB
Enbridge Stock Performance
TSE:ENB traded up C$0.07 during midday trading on Wednesday, reaching C$64.52. 7,036,968 shares of the company traded hands, compared to its average volume of 8,421,205. Enbridge has a twelve month low of C$47.41 and a twelve month high of C$65.62. The firm has a market capitalization of C$139.83 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The company has a fifty day moving average price of C$61.66 and a 200 day moving average price of C$60.90.
Enbridge Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 5.84%. Enbridge's dividend payout ratio is currently 118.98%.
Insiders Place Their Bets
In other news, Senior Officer Matthew Allan Akman bought 1,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was bought at an average cost of C$61.24 per share, for a total transaction of C$61,240.00. Also, Senior Officer Michele Eva Harradence bought 5,857 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was purchased at an average price of C$62.53 per share, with a total value of C$366,238.21. Corporate insiders own 0.10% of the company's stock.
About Enbridge
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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.
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