Enbridge (TSE:ENB) Price Target Raised to C$84.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by Scotiabank from C$78.00 to C$84.00 in a report published on Tuesday,BayStreet.CA reports. The firm currently has a sector outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada upped their target price on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Barclays boosted their price target on shares of Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. Raymond James Financial upped their price objective on Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. National Bank Financial increased their price objective on Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Finally, TD lifted their target price on Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$76.00.

Enbridge Price Performance

ENB stock opened at C$79.43 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. The company has a market capitalization of C$173.45 billion, a PE ratio of 26.93, a P/E/G ratio of 1.72 and a beta of 0.73. Enbridge has a 12-month low of C$61.22 and a 12-month high of C$80.65. The business’s fifty day moving average price is C$78.06 and its 200 day moving average price is C$73.60.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. Enbridge had a net margin of 9.43% and a return on equity of 11.11%. The company had revenue of C$22.36 billion for the quarter. On average, sell-side analysts anticipate that Enbridge will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, June 1st were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is 128.73%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Director Mayank Mulraj Ashar sold 5,000 shares of Enbridge stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total transaction of C$390,400.00. Following the completion of the sale, the director directly owned 45,000 shares of the company’s stock, valued at C$3,513,600. The trade was a 10.00% decrease in their position. Also, insider Melissa Marie Laforge sold 855 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total value of C$68,536.80. Following the transaction, the insider directly owned 7,904 shares of the company’s stock, valued at approximately C$633,584.64. This represents a 9.76% decrease in their ownership of the stock. Insiders sold 8,855 shares of company stock worth $695,547 in the last three months. 0.10% of the stock is currently owned by corporate insiders.

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.