Enbridge Inc. (TSE:ENB) Stock Has Consensus Price Target of C$77.62

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$77.62.

ENB has been the topic of several research reports. Jefferies Financial Group cut their price objective on Enbridge from C$79.00 to C$70.00 in a research note on Tuesday, September 1st. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Raymond James Financial upped their price target on Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a research report on Tuesday, September 15th. The Goldman Sachs Group upgraded Enbridge to a “hold” rating in a research note on Wednesday, September 30th. Finally, TD Securities upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th.

Enbridge Price Performance

Shares of ENB stock opened at C$66.48 on Friday. The firm has a fifty day moving average of C$68.40 and a two-hundred day moving average of C$73.61. The firm has a market cap of C$148.17 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.72 and a beta of 0.72. Enbridge has a 1-year low of C$62.42 and a 1-year high of C$80.65. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, July 31st. The company reported C$0.63 EPS for the quarter. The business had revenue of C$29.32 billion for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. As a group, research analysts anticipate that Enbridge will post 3.51 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.97 per share. The ex-dividend date was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 5.8%. Enbridge’s payout ratio is presently 147.68%.

Insiders Place Their Bets

In other Enbridge news, insider Michele Eva Harradence bought 7,105 shares of the company’s stock in a transaction on Monday, September 14th. The shares were bought at an average cost of C$67.28 per share, with a total value of C$478,024.40. Following the completion of the acquisition, the insider owned 87,467 shares of the company’s stock, valued at approximately C$5,884,779.76. This trade represents a 8.84% increase in their ownership of the stock. Also, Director Gregory Lorne Ebel purchased 7,105 shares of Enbridge stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of C$66.85 per share, for a total transaction of C$474,969.25. Following the completion of the transaction, the director owned 589,721 shares in the company, valued at approximately C$39,422,848.85. The trade was a 1.22% increase in their position. 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.