Raymond James Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective hoisted by Raymond James from C$59.00 to C$63.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports.

Several other research analysts have also recently weighed in on ENB. BMO Capital Markets boosted their target price on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their target price on Enbridge from C$60.00 to C$66.00 in a report on Thursday, November 21st. CIBC lifted their price target on Enbridge from C$59.00 to C$67.00 in a report on Monday, November 4th. Finally, National Bankshares boosted their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$58.31.

Enbridge Stock Performance

ENB opened at C$60.57 on Tuesday. Enbridge has a twelve month low of C$45.05 and a twelve month high of C$61.09. The firm has a market capitalization of C$132.04 billion, a PE ratio of 23.30, a PEG ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The firm’s 50-day moving average price is C$57.39 and its 200 day moving average price is C$53.21.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.915 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.66 annualized dividend and a yield of 6.04%. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

Insider Buying and Selling at Enbridge

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

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.