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

Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$78.20 and last traded at C$78.03, with a volume of 6675928 shares trading hands. The stock had previously closed at C$76.13.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. National Bank Financial lifted their price target on shares of Enbridge from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. Royal Bank Of Canada lifted their price target on shares of Enbridge from C$76.00 to C$79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial lifted their price target on shares of Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Barclays lifted their price objective on Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average target price of C$74.27.

Enbridge Price Performance

The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58. The firm has a market capitalization of C$173.87 billion, a PE ratio of 26.99, a PEG ratio of 1.72 and a beta of 0.87. The firm’s fifty day simple moving average is C$74.24 and its 200-day simple moving average is C$69.76.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. The business had revenue of C$22.36 billion during the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. On average, research analysts forecast that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, June 1st will be paid a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 4.9%. Enbridge’s payout ratio is currently 128.73%.

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.