Enbridge (TSE:ENB) Price Target Lowered to C$69.00 at CIBC

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lowered by CIBC from C$71.00 to C$69.00 in a report released on Wednesday,BayStreet.CA reports.

Other equities research analysts also recently issued reports about the stock. Scotiabank raised their target price on shares of Enbridge from C$65.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. Royal Bank Of Canada upped their price objective on Enbridge from C$67.00 to C$72.00 in a research note on Monday, November 10th. BMO Capital Markets lifted their target price on Enbridge from C$67.00 to C$70.00 in a research note on Thursday, December 4th. Raymond James Financial boosted their target price on Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. Finally, Barclays increased their price target on Enbridge from C$65.00 to C$68.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$70.92.

Enbridge Price Performance

Shares of ENB opened at C$64.66 on Wednesday. The company has a market cap of C$141.15 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.72 and a beta of 0.91. Enbridge has a 1-year low of C$56.51 and a 1-year high of C$70.39. The company’s fifty day simple moving average is C$66.57 and its 200 day simple moving average is C$65.29. 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 (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.46 EPS for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The firm had revenue of C$14.64 billion during the quarter. On average, research analysts forecast that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, November 14th. Enbridge’s dividend payout ratio (DPR) is presently 146.76%.

Enbridge Company Profile

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.