Enbridge (TSE:ENB) Price Target Cut to C$56.00 by Analysts at National Bank Financial

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective reduced by National Bank Financial from C$62.00 to C$56.00 in a report released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock. National Bank Financial also issued estimates for Enbridge’s FY2021 earnings at $2.52 EPS.

Several other brokerages have also recently weighed in on ENB. BMO Capital Markets lifted their price objective on shares of Enbridge from C$55.00 to C$56.00 in a research note on Wednesday, December 11th. Jefferies Financial Group restated a hold rating and issued a C$54.00 target price on shares of Enbridge in a research report on Thursday, December 5th. Citigroup boosted their target price on shares of Enbridge from C$51.00 to C$55.00 in a research report on Tuesday, February 4th. Tudor Pickering & Holt set a C$53.00 target price on shares of Enbridge and gave the company a buy rating in a research report on Monday, March 16th. Finally, Royal Bank of Canada boosted their target price on shares of Enbridge from C$56.00 to C$61.00 and gave the company an outperform rating in a research report on Tuesday, February 18th. Eight investment analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of C$55.13.

Shares of Enbridge stock opened at C$41.94 on Monday. Enbridge has a twelve month low of C$33.06 and a twelve month high of C$57.32. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 94.99. The company has a 50-day simple moving average of C$48.97 and a two-hundred day simple moving average of C$49.53. The stock has a market capitalization of $75.03 billion and a price-to-earnings ratio of 15.95.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The company reported C$0.61 earnings per share for the quarter, missing the consensus estimate of C$0.65 by C($0.04). The business had revenue of C$12.35 billion for the quarter, compared to analyst estimates of C$12.39 billion. On average, sell-side analysts anticipate that Enbridge will post 2.8299998 earnings per share for the current fiscal year.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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