Enbridge (TSE:ENB) Sets New 1-Year High – What’s Next?

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$78.20 and last traded at C$78.03, with a volume of 6675928 shares. The stock had previously closed at C$76.13.

Analyst Ratings Changes

Several brokerages have commented on ENB. National Bank Financial raised their target price on shares of Enbridge from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the stock from C$70.00 to C$72.00 in a report on Tuesday, February 17th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from C$74.00 to C$69.00 in a report on Tuesday, January 27th. Raymond James Financial lifted their price objective on shares of Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, ATB Cormark Capital Markets lifted 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus price target of C$74.27.

Enbridge Stock Up 2.4%

The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58. The company has a market capitalization of C$170.20 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.72 and a beta of 0.87. The stock’s fifty day moving average price is C$74.04 and its 200-day moving average price is C$69.58.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. The company had revenue of C$22.36 billion for the quarter. On average, sell-side analysts predict that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

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

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.