Raymond James Boosts Enbridge (TSE:ENB) Price Target to C$57.00

Enbridge (TSE:ENBGet Rating) (NYSE:ENB) had its target price increased by Raymond James from C$55.00 to C$57.00 in a report released on Tuesday, BayStreet.CA reports. Raymond James currently has a market perform rating on the stock. Raymond James also issued estimates for Enbridge’s FY2022 earnings at $2.96 EPS and FY2023 earnings at $3.20 EPS.

A number of other research analysts also recently commented on ENB. Credit Suisse Group reduced their target price on Enbridge to C$58.00 and set a neutral rating on the stock in a report on Friday, July 22nd. Wells Fargo & Company reduced their target price on Enbridge from C$64.00 to C$63.00 and set an equal weight rating on the stock in a report on Friday, May 20th. CSFB cut their price target on Enbridge from C$62.00 to C$58.00 in a report on Friday, July 22nd. US Capital Advisors reissued an overweight rating on shares of Enbridge in a report on Wednesday, June 1st. Finally, National Bankshares raised their price target on Enbridge from C$60.00 to C$61.00 and gave the stock an outperform rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of Moderate Buy and an average price target of C$58.33.

Enbridge Trading Down 0.5 %

TSE:ENB opened at C$55.35 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.58 and a debt-to-equity ratio of 122.20. The business’s 50 day moving average is C$55.74 and its two-hundred day moving average is C$55.90. Enbridge has a 52 week low of C$46.88 and a 52 week high of C$59.69. The company has a market cap of C$112.07 billion and a PE ratio of 22.97.

Enbridge (TSE:ENBGet Rating) (NYSE:ENB) last released its earnings results on Friday, May 6th. The company reported C$0.84 EPS for the quarter, missing analysts’ consensus estimates of C$0.85 by C($0.01). The business had revenue of C$15.10 billion during the quarter, compared to the consensus estimate of C$13.13 billion. On average, analysts predict that Enbridge will post 3.13 EPS for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, August 12th. Enbridge’s payout ratio is 140.66%.

About Enbridge

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Enbridge Inc 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.

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Analyst Recommendations for Enbridge (TSE:ENB)

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