Enbridge (TSE:ENB) Hits New 12-Month High – Still a Buy?

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during trading on Thursday . The stock traded as high as C$63.40 and last traded at C$63.30, with a volume of 5970969 shares traded. The stock had previously closed at C$62.70.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. Morgan Stanley set a C$64.00 target price on shares of Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on Enbridge from C$59.00 to C$63.00 in a report on Wednesday, December 4th. BMO Capital Markets boosted their target price on Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Raymond James increased their price target on Enbridge from C$59.00 to C$63.00 in a research note on Tuesday, November 26th. Finally, Scotiabank boosted their price objective on Enbridge from C$57.00 to C$61.00 in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$61.08.

Enbridge Trading Up 1.0 %

The firm’s 50 day moving average is C$59.87 and its 200 day moving average is C$55.33. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The company has a market cap of C$137.99 billion, a PE ratio of 24.35, a PEG ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 5.96%. This is a boost from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Activity at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. 0.10% of the stock is owned by corporate 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.