National Bank Financial Increases Enbridge (TSE:ENB) Price Target to C$73.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective increased by analysts at National Bank Financial from C$72.00 to C$73.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s target price suggests a potential downside of 2.20% from the company’s current price.

Several other analysts have also recently issued reports on the stock. ATB Cormark Capital Markets boosted their price objective on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Scotiabank boosted their price objective on shares of Enbridge from C$77.00 to C$78.00 and gave the stock a “sector outperform” rating in a research note on Monday. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the company from C$70.00 to C$72.00 in a report on Tuesday, February 17th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the company from C$71.00 to C$76.00 in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average target price of C$74.27.

Enbridge Trading Up 1.8%

Shares of TSE ENB traded up C$1.31 during trading on Monday, hitting C$74.64. 6,370,507 shares of the company traded hands, compared to its average volume of 8,351,692. Enbridge has a 1 year low of C$59.68 and a 1 year high of C$77.18. The company has a 50-day moving average price of C$73.70 and a 200-day moving average price of C$69.12. The firm has a market capitalization of C$162.89 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.72 and a beta of 0.87. The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. The company had revenue of C$22.36 billion during the quarter. On average, equities analysts predict that Enbridge will post 3.511912 EPS for the current year.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.