Enbridge (TSE:ENB) Given a C$64.00 Price Target at Morgan Stanley

Morgan Stanley set a C$64.00 target price on Enbridge (TSE:ENB) (NYSE:ENB) in a research note published on Friday morning, BayStreet.CA reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently weighed in on ENB. Royal Bank of Canada raised their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. CIBC boosted their price target on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Raymond James increased their price objective on Enbridge from C$54.00 to C$59.00 in a report on Tuesday, October 22nd. BMO Capital Markets boosted their target price on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$56.31.

Enbridge Trading Down 0.2 %

Enbridge stock opened at C$56.93 on Friday. Enbridge has a 12 month low of C$43.46 and a 12 month high of C$58.28. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a market cap of C$124.11 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.72 and a beta of 0.90. The company’s fifty day simple moving average is C$55.15 and its 200-day simple moving average is C$51.52.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The firm had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. As a group, sell-side analysts forecast that Enbridge will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.915 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.43%. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. In other news, Director Steven Walter Williams bought 18,600 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. 0.10% of the stock is currently owned by 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.