Enbridge (TSE:ENB) Price Target Raised to C$66.00 at CIBC

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective raised by CIBC from C$63.00 to C$66.00 in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also commented on ENB. Royal Bank of Canada lifted their price objective on Enbridge from C$59.00 to C$63.00 in a research note on Wednesday, December 4th. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the stock an “equal weight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Scotiabank boosted their target price on shares of Enbridge from C$57.00 to C$61.00 in a report on Wednesday, December 4th. Finally, Raymond James increased their price target on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$61.33.

Enbridge Stock Performance

TSE ENB opened at C$62.99 on Thursday. The company has a market capitalization of C$137.32 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.72 and a beta of 0.90. Enbridge has a twelve month low of C$45.05 and a twelve month high of C$63.40. The stock has a fifty day simple moving average of C$60.00 and a 200 day simple moving average of C$55.44. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.99%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. 0.10% of the stock is currently owned by insiders.

About Enbridge

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.