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

Enbridge (TSE:ENB) (NYSE:ENB) had its target price hoisted by Scotiabank from C$78.00 to C$84.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities analysts have also recently commented on ENB. TD upped their target price on shares of Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a research note on Thursday, June 25th. Royal Bank Of Canada raised their price target on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. National Bank Financial boosted their price objective on shares of Enbridge from C$73.00 to C$81.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Raymond James Financial boosted their price objective on shares of Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Barclays upped their price objective on shares of Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$76.00.

Enbridge Stock Performance

Shares of TSE ENB opened at C$78.28 on Tuesday. Enbridge has a 12 month low of C$61.11 and a 12 month high of C$80.65. The company has a market cap of C$170.94 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.72 and a beta of 0.73. The business’s 50 day moving average is C$77.94 and its two-hundred day moving average is C$73.41. The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. The company had revenue of C$22.36 billion during the quarter. Enbridge had a return on equity of 11.11% and a net margin of 9.43%. On average, equities analysts expect that Enbridge will post 3.511912 EPS for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, June 1st were given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 128.73%.

Insiders Place Their Bets

In other Enbridge news, Director Mayank Mulraj Ashar sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00. Following the sale, the director owned 42,000 shares of the company’s stock, valued at C$3,312,540. The trade was a 6.67% decrease in their position. Also, insider Melissa Marie Laforge sold 855 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the completion of the transaction, the insider owned 7,904 shares of the company’s stock, valued at approximately C$633,584.64. This represents a 9.76% decrease in their position. Insiders have sold 8,855 shares of company stock worth $695,547 in the last quarter. Corporate insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.