Enbridge (TSE:ENB) Reaches New 1-Year High – Time to Buy?

21 Oct 2024, 17:28 by Renee Jackson · The Cerbat Gem

Enbridge Inc. (TSE:ENB – Get Free Report) (NYSE:ENB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$58.28 and last traded at C$57.44, with a volume of 1016874 shares traded. The stock had previously closed at C$57.97.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ENB. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. BMO Capital Markets upped their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. National Bankshares boosted their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Finally, CIBC raised their price objective on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$55.36.

Get Our Latest Research Report on ENB

Enbridge Stock Down 0.8 %

The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The business’s fifty day moving average price is C$54.80 and its two-hundred day moving average price is C$51.21. The firm has a market cap of C$125.31 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last posted its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The company had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. As a group, equities research analysts anticipate that Enbridge Inc. will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.915 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.66 annualized dividend and a yield of 6.37%. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

Insiders Place Their Bets

In other news, Director Steven Walter Williams purchased 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of C$53.74 per share, with a total value of C$999,564.00. In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Company insiders own 0.10% of the company’s stock.

About Enbridge

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