Jefferies Financial Group Cuts Enbridge (TSE:ENB) Price Target to C$70.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lowered by Jefferies Financial Group from C$79.00 to C$70.00 in a research report released on Tuesday,BayStreet reports.

Other analysts have also recently issued research reports about the company. National Bank Financial upped their price objective on Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Raymond James Financial downgraded Enbridge from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 31st. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Royal Bank Of Canada increased their price objective on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, TD increased their price objective on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research note on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$76.25.

Enbridge Stock Performance

TSE:ENB opened at C$69.70 on Tuesday. The company has a market cap of C$152.23 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. The company has a 50 day simple moving average of C$74.68 and a two-hundred day simple moving average of C$74.89. Enbridge has a 12 month low of C$62.42 and a 12 month high of C$80.65.

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 return on equity of 10.01% and a net margin of 7.28%. Research analysts forecast 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. Investors of record on Tuesday, September 1st were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 147.68%.

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.