Enbridge (TSE:ENB) Price Target Raised to C$77.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price raised by Raymond James Financial from C$75.00 to C$77.00 in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a moderate buy rating on the stock.

Other analysts also recently issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. Scotiabank lifted their price objective on shares of Enbridge from C$73.00 to C$77.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and upped their target price for the stock from C$71.00 to C$76.00 in a report on Tuesday. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the company from C$70.00 to C$72.00 in a research note on Tuesday. Finally, ATB Cormark Capital Markets increased their price objective on Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$73.31.

Enbridge Stock Performance

Shares of ENB opened at C$70.65 on Tuesday. Enbridge has a one year low of C$56.51 and a one year high of C$73.71. The company has a market cap of C$154.15 billion, a PE ratio of 21.94, a P/E/G ratio of 1.72 and a beta of 0.95. The stock has a 50-day moving average of C$66.29 and a 200-day moving average of C$66.66. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%.The business had revenue of C$17.18 billion for the quarter. On average, equities research analysts predict that Enbridge will post 3.511912 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Sunday, March 1st will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio is 117.08%.

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.