Enbridge (TSE:ENB) Sets New 1-Year High – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$64.02 and last traded at C$63.71, with a volume of 1236647 shares. The stock had previously closed at C$63.24.

Analysts Set New Price Targets

ENB has been the topic of a number of analyst reports. CIBC raised their price objective on shares of Enbridge from C$63.00 to C$66.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. BMO Capital Markets raised their price target on Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective on Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. Scotiabank increased their price objective on Enbridge from C$57.00 to C$61.00 in a report on Wednesday, December 4th. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus target price of C$61.69.

Enbridge Stock Performance

The stock has a 50 day simple moving average of C$60.39 and a two-hundred day simple moving average of C$55.76. The company has a market cap of C$138.43 billion, a PE ratio of 24.42, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.9425 dividend. 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 5.94%. Enbridge’s payout ratio is currently 140.77%.

Insider Activity

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value of C$66,293.64. Corporate 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.