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

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective increased by stock analysts at Royal Bank of Canada from C$55.00 to C$59.00 in a report released on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 5.81% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Scotiabank cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price target on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and increased their price target for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. BMO Capital Markets increased their price target on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Finally, National Bankshares increased their price target on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Hold” and an average target price of C$55.25.

Enbridge Trading Up 0.9 %

TSE:ENB opened at C$55.76 on Thursday. The company has a market cap of C$121.56 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a twelve month low of C$42.87 and a twelve month high of C$56.09. The business has a 50 day moving average price of C$54.05 and a two-hundred day moving average price of C$50.72.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The company had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. As a group, analysts expect that Enbridge will post 3.0366521 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven Walter Williams purchased 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of C$53.74 per share, for a total transaction of C$999,564.00. In related news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Also, Director Steven Walter Williams purchased 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is owned by company insiders.

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.