ATB Capital Reiterates “C$72.00” Price Target for Enbridge (TSE:ENB)

ATB Capital set a C$72.00 price target on Enbridge (TSE:ENB) (NYSE:ENB) in a research note published on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. CIBC lowered their target price on Enbridge from C$71.00 to C$69.00 in a research report on Wednesday, December 17th. National Bankshares upped their target price on Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Scotiabank raised their price target on Enbridge from C$65.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. Finally, Raymond James Financial boosted their price target on Enbridge from C$74.00 to C$76.00 in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$71.17.

Enbridge Stock Down 0.2%

Shares of Enbridge stock opened at C$64.88 on Tuesday. The firm has a market cap of C$141.63 billion, a PE ratio of 25.44, a P/E/G ratio of 1.72 and a beta of 0.91. The business’s 50 day simple moving average is C$66.31 and its 200 day simple moving average is C$65.30. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. Enbridge has a 52-week low of C$56.51 and a 52-week high of C$70.39.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%.The firm had revenue of C$14.64 billion during the quarter. On average, analysts predict that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were paid a $0.9425 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $3.77 annualized dividend and a dividend yield of 5.8%. Enbridge’s payout ratio is currently 146.76%.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.