Enbridge (TSE:ENB) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) from a hold rating to an outperformer rating in a research note released on Friday morning, Marketbeat Ratings reports. Canadian Imperial Bank of Commerce currently has C$78.00 price objective on the stock, up from their previous price objective of C$77.00.

A number of other research analysts have also commented on ENB. TD upped their price target on Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a research report on Thursday, June 25th. Scotiabank lifted their price objective on Enbridge from C$78.00 to C$84.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 21st. Raymond James Financial cut Enbridge from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 31st. National Bank Financial upped their target price on Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada raised their price target on Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$76.75.

Enbridge Price Performance

ENB stock opened at C$69.76 on Friday. The stock has a market capitalization of C$152.36 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.72 and a beta of 0.74. The firm’s 50-day moving average price is C$75.38 and its two-hundred day moving average price is C$74.91. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. Enbridge has a 12-month low of C$62.42 and a 12-month high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. The company had revenue of C$29.32 billion during the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. As a group, equities analysts predict that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.97 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 5.6%. Enbridge’s dividend payout ratio is 147.68%.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.