Enbridge (TSE:ENB) Reaches New 52-Week High - Time to Buy?

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB's share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$56.85 and last traded at C$56.82, with a volume of 630001 shares traded. The stock had previously closed at C$56.56.

Analysts Set New Price Targets

Several analysts recently weighed in on ENB shares. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating and upped their price objective for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. BMO Capital Markets raised their price target on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. National Bankshares upped their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a "sector perform" rating in a research report on Friday, August 23rd. Royal Bank of Canada increased their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of "Hold" and a consensus target price of C$55.25.

Enbridge Trading Up 0.7 %

The company has a market cap of C$124.15 billion, a P/E ratio of 21.90, a PEG ratio of 0.75 and a beta of 0.90. The firm's 50 day moving average is C$54.50 and its two-hundred day moving average is C$51.02. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last issued its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The company had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. As a group, equities research analysts anticipate that Enbridge Inc. will post 3.0366521 EPS for the current year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.915 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.43%. Enbridge's dividend payout ratio (DPR) is currently 140.77%.

Insider Transactions at Enbridge

In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, with a total value of C$999,564.00. In related news, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. Also, Director Steven Walter Williams purchased 18,600 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, with a total value of C$999,564.00. 0.10% of the stock is currently owned by corporate insiders.

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.