Enbridge Inc. (TSE:ENB) Receives Average Target Price of C$62.54 from Analysts

Enbridge Inc. (TSE:ENB – Get Free Report) (NYSE:ENB) has garnered attention from analysts, receiving an average rating of "Hold" from the eleven brokerage firms currently covering the stock, according to MarketBeat Ratings. Out of these analysts, seven have recommended holding the stock, while four have given it a buy recommendation. The average one-year price target among those analysts who provided ratings in the last year is C$63.23.

Recent Analyst Recommendations

Several analysts have recently updated their price targets for Enbridge. For example, in a research note dated December 4th, BMO Capital Markets raised their price target for Enbridge from C$59.00 to C$60.00. Similarly, on October 25th, Morgan Stanley set a price target of C$64.00 while assigning an "equal weight" rating to the company. Additionally, TD Securities raised their target from C$66.00 to C$67.00, labeling the stock as a "buy" in a report released on Tuesday. Barclays also increased their price target from C$59.00 to C$64.00 on January 6th. Finally, on December 5th, JPMorgan Chase & Co. updated their target from C$66.00 to C$69.00.

Enbridge Stock Performance

The stock of Enbridge opened at C$60.64 on the most recent trading day. Over the past year, it has reached a low of C$45.39 and a high of C$65.62. The company's financial metrics include a debt-to-equity ratio of 144.86, a current ratio of 0.62, and a quick ratio of 0.44. Enbridge has a market capitalization of C$131.42 billion and its price-to-earnings ratio is 19.71. The stock has a PEG ratio of 1.72, reflecting its growth potential, and a beta of 0.90, indicating lower volatility compared to the market. The stock is currently hovering around a 50-day simple moving average of C$62.18 and a 200-day simple moving average of C$58.25.

Dividend Increase Announcement

In addition to its strong performance in the market, Enbridge recently announced an increase in its quarterly dividend, which will be paid on March 1st. Shareholders on record as of that date will receive a dividend of $0.9425 per share, a rise from the previous dividend payment of $0.92. This translates to an annual dividend of $3.77 and a dividend yield of 6.22%. The ex-dividend date for this payment is set for February 14th, and the company’s payout ratio currently stands at 118.98%.

Insider Trading Activities

In related news, on December 23rd, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge's stock at an average price of C$59.94, resulting in a total transaction value of C$66,293.64. It's worth noting that insiders hold approximately 0.10% of the company’s stock.

About Enbridge Inc.

Enbridge Inc operates as a leading energy infrastructure company through its subsidiaries. The company is segmented into five core areas: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. Within the Liquids Pipelines segment, Enbridge is involved in transporting various grades of crude oil and other liquid hydrocarbons across Canada and the United States.

Conclusion

With analysts maintaining a balanced outlook on Enbridge and the company demonstrating solid financial indicators, investors may find this stock an interesting consideration in the energy sector.

Enbridge, Stocks, Analysis