Enbridge (TSE:ENB) Price Target Raised to C$77.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by Scotiabank from C$73.00 to C$77.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. National Bank Financial boosted their price target on Enbridge from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from C$74.00 to C$69.00 in a report on Tuesday, January 27th. ATB Cormark Capital Markets upped their target price on Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research note on Tuesday. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$71.00 to C$76.00 in a research note on Tuesday. Finally, Canadian Imperial Bank of Commerce lowered their price target on shares of Enbridge from C$71.00 to C$69.00 in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$73.31.

Enbridge Trading Up 1.3%

Shares of ENB stock opened at C$70.65 on Tuesday. Enbridge has a 1 year low of C$56.51 and a 1 year high of C$73.71. The firm’s fifty day simple moving average is C$66.29 and its 200 day simple moving average is C$66.66. The firm has a market capitalization of C$154.15 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The firm had revenue of C$17.18 billion during the quarter. As a group, sell-side analysts predict that Enbridge will post 3.511912 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Sunday, March 1st will be paid a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is presently 117.08%.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.