Enbridge (TSE:ENB) Given New C$53.00 Price Target at Jefferies Financial Group

Enbridge (TSE:ENB) (NYSE:ENB) had its target price reduced by Jefferies Financial Group from C$54.00 to C$53.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on ENB. Barclays dropped their price target on Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. Stifel Nicolaus set a C$52.00 target price on Enbridge and gave the company a hold rating in a research report on Thursday, January 18th. Royal Bank of Canada lowered their target price on Enbridge from C$55.00 to C$54.00 and set an outperform rating on the stock in a research report on Monday, February 12th. National Bankshares lifted their target price on Enbridge from C$51.00 to C$52.00 in a research report on Thursday, March 7th. Finally, ATB Capital set a C$56.00 target price on Enbridge and gave the company an outperform rating in a research report on Friday, January 5th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$53.59.

Enbridge Stock Performance

ENB opened at C$45.89 on Wednesday. The business’s 50-day moving average price is C$47.48 and its two-hundred day moving average price is C$46.95. Enbridge has a 1 year low of C$42.75 and a 1 year high of C$54.05. The company has a market capitalization of C$97.75 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 0.75 and a beta of 0.89. The company has a debt-to-equity ratio of 127.95, a current ratio of 0.83 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, February 9th. The company reported C$0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.68 by C($0.04). Enbridge had a net margin of 14.18% and a return on equity of 9.47%. The firm had revenue of C$11.30 billion during the quarter, compared to analyst estimates of C$12.99 billion. Equities analysts expect that Enbridge will post 2.8389626 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, March 1st were paid a $0.915 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a dividend yield of 7.98%. The ex-dividend date was Wednesday, February 14th. Enbridge’s payout ratio is 128.87%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.