Enbridge (TSE:ENB) Stock Price Expected to Rise, TD Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by equities research analysts at TD from C$73.00 to C$79.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD’s target price would suggest a potential upside of 0.46% from the stock’s current price.

ENB has been the subject of a number of other reports. Raymond James Financial upped their target price on shares of Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and upped their price target for the stock from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. National Bank Financial upped their price target on shares of Enbridge from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Monday, May 11th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and upped their price target for the stock from C$71.00 to C$76.00 in a research report on Tuesday, February 17th. Finally, Scotiabank upped their price target on shares of Enbridge from C$77.00 to C$78.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus target price of C$74.67.

Enbridge Stock Performance

ENB stock traded down C$1.09 during midday trading on Tuesday, reaching C$78.64. 3,647,707 shares of the company’s stock traded hands, compared to its average volume of 8,689,533. Enbridge has a 52-week low of C$59.68 and a 52-week high of C$80.65. The stock has a market cap of C$171.73 billion, a P/E ratio of 26.66, a PEG ratio of 1.72 and a beta of 0.87. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. The stock’s 50-day moving average is C$74.65 and its 200 day moving average is C$70.07.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, May 8th. The company reported C$0.98 EPS for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. The business had revenue of C$22.36 billion during the quarter. As a group, analysts anticipate that Enbridge will post 3.511912 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mayank Mulraj Ashar sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$78.08, for a total transaction of C$390,400.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at approximately C$3,513,600. This represents a 10.00% decrease in their ownership of the stock. Also, insider Melissa Marie Laforge sold 855 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the transaction, the insider owned 7,904 shares of the company’s stock, valued at approximately C$633,584.64. This represents a 9.76% decrease in their position. In the last 90 days, insiders have sold 8,855 shares of company stock valued at $695,547. 0.10% of the stock is owned by company insiders.

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.