Enbridge (TSE:ENB) Raised to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Enbridge (TSE:ENB - Free Report) NYSE: ENB from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Raymond James boosted their target price on shares of Enbridge from C$54.00 to C$59.00 in a report on Tuesday, October 22nd. CIBC upped their price objective on shares of Enbridge from C$59.00 to C$67.00 in a report on Monday. Morgan Stanley set a C$64.00 target price on shares of Enbridge and gave the company an "equal weight" rating in a report on Friday, October 25th. National Bankshares upped their price target on Enbridge from C$53.00 to C$57.00 and gave the stock a "sector perform" rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group lowered 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 report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Hold" and a consensus target price of C$56.92.

Enbridge Stock Up 1.6 %

Shares of TSE ENB traded up C$0.90 during mid-day trading on Wednesday, hitting C$58.81. 12,664,864 shares of the stock traded hands, compared to its average volume of 8,097,229. The company has a market cap of C$128.21 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.72 and a beta of 0.90. The stock has a fifty day moving average price of C$55.70 and a 200-day moving average price of C$52.08. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$58.99. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.22%. Enbridge's dividend payout ratio (DPR) is presently 140.77%.

Insider Buying and Selling

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

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.