Enbridge (TSE:ENB) Hits New 52-Week High – Still a Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$75.72 and last traded at C$75.39, with a volume of 1603872 shares. The stock had previously closed at C$74.35.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ENB shares. Canadian Imperial Bank of Commerce dropped their price target on shares of Enbridge from C$71.00 to C$69.00 in a research report on Wednesday, December 17th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. BMO Capital Markets boosted their target price on shares of Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and increased their target price for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. Finally, National Bank Financial raised their target price on shares of Enbridge from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$73.31.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 170.86, a current ratio of 0.63 and a quick ratio of 0.44. The firm has a market capitalization of C$163.54 billion, a PE ratio of 23.27, a P/E/G ratio of 1.72 and a beta of 1.00. The firm has a fifty day moving average price of C$70.04 and a 200 day moving average price of C$67.84.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. The firm had revenue of C$17.18 billion for the quarter. Enbridge had a return on equity of 12.34% and a net margin of 11.50%. Research analysts anticipate that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Sunday, March 1st were given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 5.2%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, February 17th. Enbridge’s payout ratio is 117.08%.

About Enbridge

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.