Enbridge (TSE:ENB) Price Target Raised to C$66.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by equities researchers at JPMorgan Chase & Co. from C$60.00 to C$66.00 in a report issued on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.95% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Barclays lifted their price objective on shares of Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Raymond James boosted their price target on shares of Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of C$58.00.

Enbridge Trading Up 1.3 %

Enbridge stock traded up C$0.76 during trading hours on Thursday, reaching C$60.58. The stock had a trading volume of 1,359,539 shares, compared to its average volume of 8,494,374. The company has a fifty day simple moving average of C$56.67 and a 200-day simple moving average of C$52.76. The stock has a market cap of C$132.06 billion, a PE ratio of 23.28, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$60.78.

Insider Transactions at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the company’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.

About Enbridge

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.