Enbridge (TSE:ENB) Hits New 1-Year High – Should You Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price hit a new 52-week high on Friday . The stock traded as high as C$62.27 and last traded at C$62.27, with a volume of 201741 shares. The stock had previously closed at C$61.87.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ENB shares. Royal Bank of Canada upped their target price on shares of Enbridge from C$59.00 to C$63.00 in a report on Wednesday, December 4th. BMO Capital Markets raised their price objective on Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. CIBC boosted their target price on Enbridge from C$61.00 to C$63.00 in a report on Wednesday, December 4th. Morgan Stanley set a C$64.00 target price on Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Raymond James lifted their price target on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$60.31.

Enbridge Stock Performance

The company has a market cap of C$135.73 billion, a PE ratio of 23.95, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The stock’s 50-day simple moving average is C$59.42 and its 200 day simple moving average is C$54.94.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 6.06%. Enbridge’s dividend payout ratio is currently 140.77%.

Insider Buying and Selling at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value of C$66,293.64. 0.10% of the stock is owned by corporate insiders.

About Enbridge

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.