Enbridge (TSE:ENB) Price Target Raised to C$80.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price increased by Raymond James Financial from C$79.00 to C$80.00 in a research report sent to investors on Tuesday morning,BayStreet reports. They currently have a market perform rating on the stock.

Several other analysts also recently commented on ENB. TD boosted their target price on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research report on Thursday, June 25th. Jefferies Financial Group reduced their price objective on shares of Enbridge from C$79.00 to C$70.00 in a research note on Tuesday, September 1st. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “hold” rating to an “outperformer” rating and upped their price objective for the stock from C$77.00 to C$78.00 in a report on Friday, August 28th. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Finally, National Bank Financial set a C$81.00 target price on Enbridge and gave the company an “outperform” rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average target price of C$77.62.

Enbridge Stock Up 0.7%

Shares of Enbridge stock opened at C$68.18 on Tuesday. The firm has a market cap of C$148.91 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.72 and a beta of 0.69. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. Enbridge has a 52-week low of C$62.42 and a 52-week high of C$80.65. The stock has a 50-day simple moving average of C$72.79 and a 200-day simple moving average of C$74.66.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, July 31st. The company reported C$0.63 EPS for the quarter. The firm had revenue of C$29.32 billion for the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%. On average, equities research analysts expect that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.7%. Enbridge’s dividend payout ratio (DPR) is currently 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.