Enbridge (TSE:ENB) Sets New 12-Month High – What’s Next?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high during trading on Friday . The company traded as high as C$74.42 and last traded at C$74.26, with a volume of 1524440 shares trading hands. The stock had previously closed at C$73.12.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ENB shares. BMO Capital Markets raised their target price on shares of Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. National Bank Financial raised their price objective on shares of Enbridge from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Scotiabank lifted their price objective on Enbridge from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and upped their target price for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$73.31.

Enbridge Trading Up 1.6%

The company has a debt-to-equity ratio of 170.86, a current ratio of 0.63 and a quick ratio of 0.44. The firm has a market cap of C$162.04 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The business’s 50-day moving average price is C$68.60 and its two-hundred day moving average price is C$67.44.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, February 13th. The company reported C$0.88 EPS for the quarter. The firm had revenue of C$17.18 billion during the quarter. Enbridge had a net margin of 11.50% and a return on equity of 12.34%. Equities analysts expect that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Sunday, March 1st were given a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is presently 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.