Enbridge (TSE:ENB) Reaches New 1-Year High - Time to Buy?

Enbridge Inc. (TSE:ENB) has hit a new 52-week high during trading on Friday, reaching a peak price of C$62.27. The stock eventually closed at C$62.27, with a trading volume of 201,741 shares. Just prior to this, it had closed at C$61.87.

Wall Street Analysts Forecast Growth

• Is Enbridge Stock Too Cheap to Pass Up Now?

Enbridge has been featured in various analyst reports recently. Raymond James raised their price target for Enbridge from C$59.00 to C$63.00 in a report published on November 26th. On the other hand, Jefferies Financial Group revised their rating from "buy" to "hold" but increased their price target from C$55.00 to C$58.00 in a report released on September 30th. Additionally, Morgan Stanley set a price target of C$64.00 with an "equal weight" rating as outlined in a report dated October 25th. Also, BMO Capital Markets raised their target from C$59.00 to C$60.00 in a research note on December 4th. CIBC followed suit, increasing their price target from C$61.00 to C$63.00 on the same day. Currently, eight analysts have rated Enbridge as a hold, while three have assigned it a buy rating. According to MarketBeat, the stock holds a consensus rating of "Hold" with a consensus price target set at C$60.31.

View Our Latest Stock Report on ENB

Enbridge Price Performance

• 5 Best High-Yield Dividend Stocks for Any Economic Climate

The company holds a debt-to-equity ratio of 131.26 and has a current ratio of 0.76 and a quick ratio of 0.44. Enbridge's market capitalization stands at C$135.73 billion, with a price-to-earnings ratio of 23.95 and a PEG ratio of 1.72. Additionally, the stock's beta is measured at 0.90. Currently, its 50-day moving average price is C$59.42, while the 200-day moving average price is C$54.94.

Enbridge Increases Dividend

The firm has announced a quarterly dividend, which is scheduled to be paid on March 1st. Shareholders on record as of February 14th will receive a dividend of $0.9425 per share. This marks an increase from their previous quarterly dividend of $0.92. Annually, this translates to a $3.77 dividend, resulting in a yield of 6.06%. However, it's worth noting that Enbridge's dividend payout ratio is at 140.77%.

Insiders Place Their Bets

In recent related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge on December 23rd. This transaction was made at an average price of C$59.94, totaling approximately C$66,293.64. Notably, insiders own about 0.10% of the company's stock.

Enbridge Company Profile

Enbridge Inc. operates as an energy infrastructure company, managing its operations through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment focuses on the transportation of various crude oil types and other liquid hydrocarbons across Canada and the United States.

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Should you invest $1,000 in Enbridge right now?

Before making any investment in Enbridge, it's important to assess your options.

Analysts have been closely monitoring Enbridge among other stocks, and it is worth noting that while it currently holds a "Hold" rating, many analysts believe there are other stocks with better potential at this time.

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