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

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by investment analysts at Raymond James from C$54.00 to C$59.00 in a report released on Tuesday, BayStreet.CA reports. Raymond James’ price target suggests a potential upside of 2.97% from the company’s current price.

Several other research analysts also recently weighed in on the company. National Bankshares upped their target price on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. BMO Capital Markets boosted their price target on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, CIBC boosted their price target on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$55.67.

Enbridge Price Performance

Shares of ENB stock traded down C$0.18 during trading hours on Tuesday, hitting C$57.30. 548,197 shares of the company’s stock were exchanged, compared to its average volume of 8,041,823. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The firm has a market cap of C$124.91 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.72 and a beta of 0.90. The firm has a 50 day moving average of C$54.89 and a two-hundred day moving average of C$51.27. Enbridge has a fifty-two week low of C$43.21 and a fifty-two week high of C$58.28.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The business had revenue of C$11.34 billion for the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. Sell-side analysts forecast that Enbridge will post 3.511912 EPS for the current year.

Insider Buying and Selling at Enbridge

In related news, Director Steven Walter Williams purchased 18,600 shares of Enbridge stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$53.74 per share, with a total value of C$999,564.00. In related news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction that occurred 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. Also, Director Steven Walter Williams purchased 18,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased 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 corporate 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.