JPMorgan Chase & Co. Increases Enbridge (TSE:ENB) Price Target to C$60.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price raised by analysts at JPMorgan Chase & Co. from C$57.00 to C$60.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 7.60% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ENB. BMO Capital Markets boosted their target price on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the company from C$55.00 to C$58.00 in a report on Monday, September 30th. National Bankshares boosted their target price on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. CIBC boosted their target price on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Finally, Scotiabank downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$55.25.

Enbridge Stock Performance

Shares of TSE ENB opened at C$55.76 on Thursday. The company has a market cap of C$121.56 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. Enbridge has a 12 month low of C$42.87 and a 12 month high of C$56.09. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The company has a 50-day simple moving average of C$54.05 and a 200-day simple moving average of C$50.72.

Enbridge (TSE:ENB) (NYSE:ENB) last issued 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 return on equity of 8.57% and a net margin of 13.54%. The firm had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. On average, equities analysts anticipate that Enbridge will post 3.0366521 earnings per share for the current year.

Insider Transactions at Enbridge

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