Enbridge (TSE:ENB) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) from a hold rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. BMO Capital Markets currently has C$79.50 price target on the stock, up from their previous price target of C$79.00.

ENB has been the topic of several other research reports. TD upped their target price on Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a research report on Thursday, June 25th. Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and lifted their price target for the stock from C$77.00 to C$78.00 in a report on Friday, August 28th. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Jefferies Financial Group decreased their price objective on Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. Finally, Raymond James Financial raised their price target on shares of Enbridge from C$79.00 to C$80.00 and gave the stock a “market perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of C$77.62.

Enbridge Stock Performance

Shares of ENB stock opened at C$68.18 on Tuesday. Enbridge has a 52 week low of C$62.42 and a 52 week high of C$80.65. The company has a market capitalization of C$148.91 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.72 and a beta of 0.69. The company has a 50-day simple moving average of C$72.79 and a 200 day simple moving average of C$74.66. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. The firm had revenue of C$29.32 billion for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. On average, sell-side analysts predict that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.68%.

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.