Enbridge (TSE:ENB) Reaches New 12-Month High - Still a Buy?

Enbridge Inc. (TSE:ENB) recently achieved a new 52-week high in stock price during trading on Wednesday. The stock reached a peak of C$64.02 and was last seen trading at C$63.71, with a trading volume of approximately 1.24 million shares. The previous closing price was C$63.24.

Analyst Ratings Changes

In recent evaluations, various analysts have shared their insights on Enbridge's stock. Wells Fargo & Company raised their target price for Enbridge shares from C$57.00 to C$60.00 in a report dated December 5th. Similarly, JPMorgan Chase & Co. elevated their price target from C$66.00 to C$69.00 the same day. TD Securities also set a target of C$66.00 and gave Enbridge a “buy” rating on December 4th. Additionally, BMO Capital Markets increased its price target from C$59.00 to C$60.00 on December 4th. Barclays followed suit by raising their price objective from C$59.00 to C$64.00 on January 6th. Overall, eight analysts have assigned a hold rating while four have given a buy rating, leading to a consensus rating of “Hold” and an average target price of C$61.69, according to MarketBeat.com.

Enbridge Stock Up 1.7%

The company has a market capitalization of approximately C$140.35 billion, with a price-to-earnings ratio of 24.76. It has a price/earnings to growth (P/E/G) ratio of 1.72 and a beta value of 0.90, suggesting a relatively stable investment. Enbridge's quick ratio stands at 0.44, with a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Additionally, the stock has a 50-day moving average price of C$60.63 and a 200-day moving average price of C$55.97.

Enbridge Increases Dividend

Enbridge also announced a quarterly dividend that will be distributed on March 1st. Shareholders who are on record by February 14th will receive a dividend payment of $0.9425 per share, which marks an increase from the prior quarterly dividend of $0.92. This translates to an annualized dividend of $3.77, resulting in a yield of 5.86%. Notably, the payout ratio stands at 140.77%.

Insider Activity at Enbridge

In other developments, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock on December 23rd. The sale occurred at an average price of C$59.94, amounting to a total value of C$66,293.64. Currently, corporate insiders hold only 0.10% of the company's stock.

Enbridge Company Overview

Enbridge Inc. operates as an energy infrastructure company through its subsidiaries. It functions across five primary segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment is particularly significant as it facilitates the transportation of various grades of crude oil and other liquid hydrocarbons across Canada and the United States.

Conclusion

As Enbridge continues to hit new peaks in stock price, investors are weighing if it is the right time to buy. Although analysts have varied opinions, the company remains a key player in the energy infrastructure sector.

Enbridge, stocks, dividend