Enbridge (TSE:ENB) Price Target Raised to C$59.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by Raymond James from C$54.00 to C$59.00 in a research note issued on Tuesday, BayStreet.CA reports. Raymond James’ price objective indicates a potential upside of 3.49% from the stock’s current price.

Several other equities analysts have also recently weighed in on ENB. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their price target for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. National Bankshares upped their price target on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Royal Bank of Canada raised their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$55.67.

Enbridge Stock Down 0.5 %

ENB stock opened at C$57.01 on Tuesday. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. Enbridge has a fifty-two week low of C$43.46 and a fifty-two week high of C$58.28. The stock’s 50 day simple moving average is C$55.03 and its 200 day simple moving average is C$51.40. The company has a market cap of C$124.28 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The business had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. On average, research analysts expect that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Insider Transactions at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. In other news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Also, Director Steven Walter Williams acquired 18,600 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of C$53.74 per share, with a total value of C$999,564.00. Corporate insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.