Enbridge (TSE:ENB) Reaches New 12-Month Low - What's Next?

Enbridge Inc. (TSE:ENB - Get Free Report) has recently hit a new 52-week low, trading as low as C$0.01 before its last recorded price of C$62.31. On this day, 1,311,318 shares were exchanged, and the previous close was C$61.81.

Wall Street Analysts Forecast Growth

Many analysts have examined Enbridge's performance, providing insights into the stock's potential. The Royal Bank of Canada recently raised its target price from C$63.00 to C$67.00 on February 18. TD Securities also increased its target from C$66.00 to C$67.00, issuing a "buy" rating in their findings on the same day. Similarly, CIBC and Raymond James both upgraded their target prices to C$67.00 and C$65.00 respectively. MarketBeat reports that seven analysts currently rate the stock as a hold, while four favor buying. The consensus target price stands at C$63.31.

Enbridge Stock Performance

When analyzing Enbridge's stock, the firm’s fifty-day simple moving average is C$62.36, and its 200-day moving average is C$58.86. The market capitalization is C$132.22 billion, with a price-to-earnings ratio of 19.83 and a P/E/G ratio of 1.72, alongside a beta of 0.90. Financial ratios include a current ratio of 0.62 and quick ratio of 0.44, with a high debt-to-equity ratio of 144.86.

Enbridge Increases Dividend

In a recent announcement, Enbridge declared an increase in its quarterly dividend. Shareholders recorded on March 1 received a dividend of $0.9425, an increase from the previous $0.92. The ex-dividend date was set for February 14. This equates to an annualized dividend of $3.77, resulting in a yield of 6.18%. Enbridge’s dividend payout ratio currently sits high at 118.98%.

Insiders Place Their Bets

In notable company news, Cynthia Lynn Hansen, a senior officer, sold 1,106 shares of Enbridge on December 23 at an average price of C$59.94, amounting to a deal of C$66,293.64. Company insiders hold a minor stake of 0.10% in Enbridge.

About Enbridge

Enbridge Inc. is known as an energy infrastructure powerhouse. The company operates through five distinct segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. In particular, the Liquids Pipelines segment is responsible for transporting various grades of crude oil along with other liquid hydrocarbons in both Canada and the United States.

Investment Consideration

Before making any investment decisions, prospective investors should consider the analysis and evaluations surrounding Enbridge. Some experts highlight other stocks with greater potential. MarketBeat is tracking top analysts and their recommended investments; it appears Enbridge is not among the most recommended options at this moment.

Enbridge, Stock, Analysts