Enbridge (TSE:ENB) Hits New 12-Month High - Time to Buy?

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$64.68 and last traded at C$64.57, with a volume of 200917 shares changing hands. The stock had previously closed at C$63.93.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENB. Scotiabank boosted their price target on Enbridge from C$57.00 to C$61.00 in a research report on Wednesday, December 4th. TD Securities set a C$66.00 target price on Enbridge and gave the company a "buy" rating in a research note on Wednesday, January 15th. Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating and increased their price target for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. Barclays lifted their price objective on shares of Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Finally, BMO Capital Markets boosted their price objective on shares of Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of C$61.69.

Enbridge Price Performance

The stock has a market capitalization of C$140.59 billion, a PE ratio of 24.80, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The stock's fifty day moving average is C$61.06 and its 200-day moving average is C$56.42.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last announced its quarterly earnings results on Friday, November 1st. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.56 by C($0.01). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business 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 dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.85%. This is an increase from Enbridge's previous quarterly dividend of $0.92. Enbridge's dividend payout ratio (DPR) is presently 140.77%.

Insider Transactions at Enbridge

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

About Enbridge

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.