Barclays Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by Barclays from C$68.00 to C$73.00 in a report released on Tuesday,BayStreet.CA reports.

Other equities research analysts also recently issued reports about the stock. ATB Cormark Capital Markets upped their price objective on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Scotiabank upped 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, February 17th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and increased their target price for the stock from C$71.00 to C$76.00 in a research report on Tuesday, February 17th. Royal Bank Of Canada increased their target price on Enbridge from C$72.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$73.58.

Enbridge Price Performance

Enbridge stock opened at C$75.56 on Tuesday. Enbridge has a 12 month low of C$56.51 and a 12 month high of C$77.18. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 170.86. The business’s 50 day simple moving average is C$72.22 and its 200 day simple moving average is C$68.44. The company has a market cap of C$164.90 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.72 and a beta of 0.79.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The company reported C$0.88 EPS for the quarter. The business had revenue of C$17.18 billion for the quarter. Enbridge had a return on equity of 12.34% and a net margin of 11.50%. Sell-side analysts forecast that Enbridge will post 3.511912 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Sunday, March 1st were issued a $0.97 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.1%. Enbridge’s payout ratio is currently 117.08%.

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.