Enbridge (TSE:ENB) Reaches New 1-Year High – Time to Buy?

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$64.68 and last traded at C$64.57, with a volume of 200917 shares. The stock had previously closed at C$63.93.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and upped their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Raymond James upped their price objective on shares of Enbridge from C$59.00 to C$63.00 in a research note on Tuesday, November 26th. Royal Bank of Canada upped their price objective on shares of Enbridge from C$59.00 to C$63.00 in a report on Wednesday, December 4th. Finally, CIBC increased their price objective on shares of Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and an average target price of C$61.69.

Enbridge Trading Up 2.4 %

The stock has a market cap of C$142.77 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.72 and a beta of 0.90. The business has a 50-day moving average of C$60.84 and a 200-day moving average of C$56.25. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 5.76%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s payout ratio is currently 140.77%.

Insider Transactions at Enbridge

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.