Enbridge (TSE:ENB) Price Target Raised to C$84.00 at ATB Cormark Capital Markets

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by ATB Cormark Capital Markets from C$83.00 to C$84.00 in a report issued on Tuesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 24.48% from the company’s current price.

Several other research firms have also issued reports on ENB. Scotiabank upped their target price on shares of Enbridge from C$78.00 to C$84.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st. TD lifted their price objective on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research report on Thursday, June 25th. Raymond James Financial raised their price target on shares of Enbridge from C$79.00 to C$80.00 and gave the stock a “market perform” rating in a research note on Tuesday. National Bank Financial set a C$81.00 price objective on Enbridge and gave the company an “outperform” rating in a research note on Wednesday, September 9th. Finally, Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and raised their target price for the stock from C$77.00 to C$78.00 in a research report on Friday, August 28th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$77.62.

Enbridge Stock Up 0.7%

Shares of TSE ENB traded up C$0.45 during midday trading on Tuesday, hitting C$67.48. 2,607,367 shares of the stock traded hands, compared to its average volume of 8,622,322. The business has a 50 day moving average price of C$73.40 and a two-hundred day moving average price of C$74.74. Enbridge has a one year low of C$62.42 and a one year high of C$80.65. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72. The company has a market cap of C$147.38 billion, a PE ratio of 26.05, a P/E/G ratio of 1.72 and a beta of 0.69.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. The firm had revenue of C$29.32 billion for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. 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.