Enbridge (TSE:ENB) Reaches New 1-Year High – What’s Next?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$73.75 and last traded at C$73.24, with a volume of 459041 shares changing hands. The stock had previously closed at C$72.47.

Analyst Upgrades and Downgrades

ENB has been the topic of several recent research reports. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on Enbridge from C$72.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. ATB Cormark Capital Markets raised their price target on shares of Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of 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. Finally, National Bank Financial boosted their price objective on Enbridge from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$73.31.

Enbridge Price Performance

The stock has a market capitalization of C$160.71 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The company has a 50-day simple moving average of C$67.11 and a two-hundred day simple moving average of C$66.98.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data 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 for the quarter. On average, equities research analysts predict that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Sunday, March 1st were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 5.3%. Enbridge’s dividend payout ratio is presently 117.08%.

Enbridge Company Profile

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.