Enbridge (TSE:ENB) Hits New 52-Week High – What’s Next?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as C$62.27 and last traded at C$62.27, with a volume of 201741 shares changing hands. The stock had previously closed at C$61.87.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of analyst reports. Raymond James lifted their price objective on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. BMO Capital Markets lifted their target price on shares of Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Finally, CIBC increased their price target on shares of Enbridge from C$61.00 to C$63.00 in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$60.31.

Enbridge Price Performance

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 firm has a market capitalization of C$135.73 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.72 and a beta of 0.90. The stock has a 50 day moving average price of C$59.42 and a two-hundred day moving average price of C$54.94.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 6.06%. Enbridge’s dividend payout ratio is 140.77%.

Insiders Place Their Bets

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.