CIBC Raises Enbridge (NYSE:ENB) Price Target to C$57.00

Enbridge (NYSE:ENB) (TSE:ENB) had its price target hoisted by CIBC from C$55.00 to C$57.00 in a report published on Tuesday, The Fly reports.

ENB has been the subject of several other reports. Credit Suisse Group downgraded shares of Enbridge from an outperform rating to a neutral rating and set a $56.00 price target for the company. in a report on Monday, October 25th. Tudor Pickering reaffirmed a buy rating and issued a C$54.00 price objective on shares of Enbridge in a research note on Friday, November 5th. National Bank Financial lifted their target price on shares of Enbridge from C$51.00 to C$54.00 and gave the stock an outperform rating in a research note on Monday, November 8th. TD Securities boosted their target price on shares of Enbridge from C$55.00 to C$57.00 and gave the company a buy rating in a report on Monday, November 8th. Finally, The Goldman Sachs Group increased their price target on Enbridge from C$41.00 to C$43.00 and gave the stock a neutral rating in a report on Monday, September 13th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $53.40.

NYSE:ENB opened at $41.66 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.55 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $84.40 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. Enbridge has a twelve month low of $33.41 and a twelve month high of $43.35. The stock’s 50-day simple moving average is $39.17 and its 200 day simple moving average is $39.82.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 5th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.68 billion. Enbridge had a net margin of 13.47% and a return on equity of 9.76%. During the same period in the previous year, the firm posted $0.36 EPS. On average, analysts anticipate that Enbridge will post 2.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1st. Stockholders of record on Tuesday, February 15th will be issued a dividend of $0.673 per share. The ex-dividend date is Monday, February 14th. This represents a $2.69 annualized dividend and a dividend yield of 6.46%. Enbridge’s dividend payout ratio is 120.27%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ENB. Consolidated Planning Corp bought a new stake in Enbridge during the 3rd quarter valued at $25,000. Isthmus Partners LLC bought a new position in Enbridge in the 2nd quarter valued at about $26,000. Mascoma Wealth Management LLC acquired a new position in Enbridge during the 3rd quarter valued at about $26,000. BDO Wealth Advisors LLC increased its holdings in Enbridge by 222.4% during the 2nd quarter. BDO Wealth Advisors LLC now owns 793 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 547 shares in the last quarter. Finally, PSI Advisors LLC purchased a new stake in shares of Enbridge in the third quarter worth approximately $33,000. 48.35% of the stock is owned by institutional investors and hedge funds.

Enbridge Company Profile

Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

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