Enbridge (TSE:ENB) Given New C$63.00 Price Target at CIBC

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by research analysts at CIBC from C$61.00 to C$63.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 2.89% from the stock’s previous close.

Other analysts have also issued research reports about the company. BMO Capital Markets boosted their price target on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Royal Bank of Canada upped their price objective on Enbridge from C$59.00 to C$63.00 in a research note on Wednesday. Raymond James increased their price target on Enbridge from C$59.00 to C$63.00 in a research note on Tuesday, November 26th. Finally, Scotiabank increased their price target on Enbridge from C$57.00 to C$61.00 in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of C$59.15.

Enbridge Stock Performance

TSE:ENB traded up C$0.05 during mid-day trading on Wednesday, hitting C$61.23. 1,101,808 shares of the company traded hands, compared to its average volume of 8,463,175. The stock’s fifty day moving average price is C$57.63 and its 200-day moving average price is C$53.35. Enbridge has a one year low of C$45.05 and a one year high of C$61.89. 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$133.48 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of the 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 value of C$37,977.60. Company 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.