Enbridge (TSE:ENB) Price Target Cut to C$69.00 by Analysts at CIBC

Enbridge (TSE:ENB) (NYSE:ENB) had its target price reduced by research analysts at CIBC from C$71.00 to C$69.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 6.93% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Barclays raised their price objective on shares of Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Scotiabank raised their price target on Enbridge from C$65.00 to C$69.00 and gave the stock a “sector perform” rating in a report on Monday, October 20th. Jefferies Financial Group boosted their price target on Enbridge from C$72.00 to C$73.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets increased their price objective on Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$70.92.

Enbridge Stock Performance

Shares of TSE ENB traded up C$0.30 during trading hours on Wednesday, reaching C$64.53. The stock had a trading volume of 1,369,827 shares, compared to its average volume of 7,961,818. The firm has a 50-day moving average of C$66.64 and a 200-day moving average of C$65.30. The firm has a market cap of C$140.87 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.72 and a beta of 0.91. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. Enbridge has a fifty-two week low of C$56.51 and a fifty-two week high of C$70.39.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$14.64 billion during the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. Equities research analysts predict that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.