Enbridge (TSE:ENB) Sets New 52-Week High - Still a Buy?

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB's stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$58.28 and last traded at C$57.44, with a volume of 1016874 shares trading hands. The stock had previously closed at C$57.97.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research analyst reports. CIBC raised their price objective on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. National Bankshares raised their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the company a "sector perform" rating in a research note on Friday, August 23rd. BMO Capital Markets raised their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating and raised their price objective for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$55.36.

Enbridge Stock Performance

The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a market cap of C$125.31 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company's 50-day simple moving average is C$54.89 and its 200-day simple moving average is C$51.27.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last posted its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The business had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Analysts predict that Enbridge Inc. will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge's payout ratio is 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred 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. In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred 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 acquired 18,600 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of C$53.74 per share, for a total transaction of C$999,564.00. 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.