Enbridge (TSE:ENB) Price Target Raised to C$69.00 at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective hoisted by Scotiabank from C$65.00 to C$69.00 in a research note released on Monday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts also recently weighed in on the stock. Barclays raised their price target on shares of Enbridge from C$65.00 to C$68.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Argus upgraded shares of Enbridge to a “strong-buy” rating in a report on Tuesday, August 12th. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating and raised their price target for the company from C$68.00 to C$70.00 in a report on Thursday, October 9th. National Bankshares raised their target price on shares of Enbridge from C$64.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating and raised their target price for the company from C$65.00 to C$72.00 in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average price target of C$67.80.

Enbridge Stock Up 0.4%

Enbridge stock opened at C$66.24 on Monday. The company has a market capitalization of C$144.44 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.72 and a beta of 0.89. The firm’s fifty day simple moving average is C$67.24 and its 200-day simple moving average is C$64.13. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. Enbridge has a 1-year low of C$55.53 and a 1-year high of C$70.39.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Monday, September 1st were given a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 130.81%.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.