Enbridge (TSE:ENB) Hits New 52-Week High – Still a Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during trading on Thursday . The stock traded as high as C$60.14 and last traded at C$59.96, with a volume of 143775 shares. The stock had previously closed at C$59.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. CIBC raised their target price on shares of Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating and upped their price target for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. BMO Capital Markets increased their price target on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Finally, National Bankshares boosted their price objective on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus price target of C$57.54.

Enbridge Trading Up 1.0 %

The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The company has a market cap of C$131.04 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.72 and a beta of 0.90. The firm has a 50 day moving average price of C$56.25 and a two-hundred day moving average price of C$52.45.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Transactions at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Corporate insiders own 0.10% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, 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.