Enbridge (TSE:ENB) Sets New 1-Year High – Time to Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$60.14 and last traded at C$59.96, with a volume of 143775 shares. The stock had previously closed at C$59.53.

Analysts Set New Price Targets

A number of research analysts have recently commented on ENB shares. BMO Capital Markets increased their price objective on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and increased their price target for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. Barclays boosted their price objective on shares of Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Raymond James increased their target price on shares of Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. 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, the stock has an average rating of “Hold” and a consensus price target of C$57.54.

Enbridge Trading Down 2.0 %

The business’s 50 day simple moving average is C$56.37 and its 200 day simple moving average is C$52.53. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The company has a market capitalization of C$129.49 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 6.16%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 140.77%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. 0.10% of the stock is owned by company insiders.

About Enbridge

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.