Enbridge (TSE:ENB) Given New C$53.00 Price Target at Barclays

Enbridge (TSE:ENBGet Rating) (NYSE:ENB) had its price target cut by Barclays from C$55.00 to C$53.00 in a research note published on Wednesday, BayStreet.CA reports.

A number of other brokerages have also commented on ENB. CIBC upped their price target on shares of Enbridge from C$59.00 to C$62.00 in a research note on Monday, January 9th. UBS Group decreased their price target on shares of Enbridge from C$62.00 to C$59.00 in a research note on Monday, October 3rd. BMO Capital Markets decreased their price target on shares of Enbridge from C$63.00 to C$60.00 in a research note on Tuesday, September 20th. Scotiabank decreased their target price on shares of Enbridge from C$54.00 to C$52.00 in a research report on Friday, December 9th. Finally, CSFB decreased their target price on shares of Enbridge from C$58.00 to C$54.00 in a research report on Tuesday, October 25th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of C$57.73.

Enbridge Stock Down 0.4 %

Enbridge stock opened at C$55.62 on Wednesday. The firm has a market capitalization of C$112.62 billion and a PE ratio of 20.60. The company’s 50-day moving average is C$54.14 and its 200-day moving average is C$54.15. Enbridge has a fifty-two week low of C$48.88 and a fifty-two week high of C$59.69. The company has a debt-to-equity ratio of 121.96, a current ratio of 0.60 and a quick ratio of 0.44.

Enbridge (TSE:ENBGet Rating) (NYSE:ENB) last announced its quarterly earnings results on Friday, November 4th. The company reported C$0.67 EPS for the quarter, missing analysts’ consensus estimates of C$0.68 by C($0.01). The company had revenue of C$11.57 billion for the quarter. Sell-side analysts anticipate that Enbridge will post 3.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be paid a $0.887 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.86. The ex-dividend date is Tuesday, February 14th. This represents a $3.55 annualized dividend and a yield of 6.38%. Enbridge’s dividend payout ratio is presently 126.48%.

Insider Activity at Enbridge

In other news, Director Albert Monaco sold 10,649 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of C$54.80, for a total transaction of C$583,565.20. Following the completion of the transaction, the director now owns 988,786 shares of the company’s stock, valued at C$54,185,472.80. In other news, Director Albert Monaco sold 10,649 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of C$54.80, for a total transaction of C$583,565.20. Following the completion of the transaction, the director now owns 988,786 shares of the company’s stock, valued at C$54,185,472.80. Also, Senior Officer Byron Craig Neiles sold 4,342 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of C$55.71, for a total transaction of C$241,892.82. Following the transaction, the insider now directly owns 145,967 shares of the company’s stock, valued at approximately C$8,131,821.57.

About Enbridge

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Enbridge Inc 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.

Further Reading

Analyst Recommendations for Enbridge (TSE:ENB)

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