Enbridge (ENB) Hits New 1-Year High at $47.54

Enbridge Inc (TSE:ENB) (NYSE:ENB)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$47.54 and last traded at C$47.43, with a volume of 2134691 shares trading hands. The stock had previously closed at C$47.22.

A number of research firms have recently issued reports on ENB. CIBC boosted their price target on shares of Enbridge from C$55.00 to C$57.00 in a research note on Tuesday. BMO Capital Markets reduced their price target on shares of Enbridge from C$60.00 to C$59.00 in a research note on Monday, November 5th. TD Securities boosted their price target on shares of Enbridge from C$54.00 to C$56.00 in a research note on Monday, November 5th. UBS Group reissued a “buy” rating and issued a C$50.00 price target on shares of Enbridge in a research note on Thursday, October 4th. Finally, Citigroup boosted their price target on shares of Enbridge from C$44.00 to C$47.00 and gave the company a “neutral” rating in a research note on Monday, September 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Enbridge presently has an average rating of “Buy” and an average target price of C$53.64.

The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 88.23.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, November 2nd. The company reported C$0.55 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.51 by C$0.04. The firm had revenue of C$11.35 billion during the quarter. On average, sell-side analysts forecast that Enbridge Inc will post 2.51999989753495 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be given a $0.738 dividend. The ex-dividend date is Thursday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.95 dividend on an annualized basis and a dividend yield of 6.24%. Enbridge’s dividend payout ratio is currently 271.53%.

In other news, insider Cynthia Lynn Hansen sold 2,516 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of C$44.05, for a total value of C$110,829.80. Also, insider Byron Craig Neiles sold 64,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of C$43.10, for a total transaction of C$2,758,400.00. Following the completion of the sale, the insider now owns 64,667 shares of the company’s stock, valued at approximately C$2,787,147.70. Over the last three months, insiders sold 69,158 shares of company stock worth $2,980,194.

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About Enbridge (TSE:ENB)

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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