Enbridge (ENB) Sets New 52-Week High at $50.05

Enbridge Inc (TSE:ENB) (NYSE:ENB) shares reached a new 52-week high on Monday . The company traded as high as C$50.05 and last traded at C$49.94, with a volume of 1326927 shares changing hands. The stock had previously closed at C$49.79.

ENB has been the topic of a number of recent research reports. National Bank Financial raised shares of Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Wednesday, March 20th. UBS Group lowered shares of Enbridge from a “buy” rating to a “neutral” rating in a research note on Friday, February 8th. CIBC raised their price objective on shares of Enbridge from C$55.00 to C$57.00 in a research note on Tuesday, January 15th. JPMorgan Chase & Co. raised their price objective on shares of Enbridge from C$53.00 to C$56.00 in a research note on Friday, February 1st. Finally, TD Securities raised their price objective on shares of Enbridge from C$56.00 to C$57.00 in a research note on Tuesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$54.83.

The firm has a market cap of $100.73 billion and a P/E ratio of 34.26. The company has a debt-to-equity ratio of 88.72, a quick ratio of 0.45 and a current ratio of 0.58.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, February 15th. The company reported C$0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.60 by C$0.05. The firm had revenue of C$11.56 billion during the quarter. On average, analysts expect that Enbridge Inc will post 2.81000005790303 earnings per share for the current fiscal year.

In other news, Director Albert Monaco bought 7,806 shares of the stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of C$49.33 per share, for a total transaction of C$385,069.98. Following the completion of the acquisition, the director now directly owns 813,101 shares in the company, valued at approximately C$40,110,272.33.

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About Enbridge (TSE:ENB)

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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