Royal Bank of Canada Increases Enbridge (TSE:ENB) Price Target to C$59.00

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB had its price objective raised by equities researchers at Royal Bank of Canada from C$55.00 to C$59.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective indicates a potential upside of 6.79% from the stock's current price.

A number of other research firms have also commented on ENB. National Bankshares boosted their target price on Enbridge from C$53.00 to C$57.00 and gave the stock a "sector perform" rating in a report on Friday, August 23rd. Scotiabank cut Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 14th. Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating and upped their price target for the company from C$55.00 to C$58.00 in a report on Monday. BMO Capital Markets raised their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Enbridge from C$57.00 to C$60.00 and gave the company a "buy" rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$55.25.

Enbridge Stock Performance

TSE ENB traded down C$0.17 during trading hours on Thursday, reaching C$55.25. The company's stock had a trading volume of 2,757,151 shares, compared to its average volume of 8,025,694. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The business has a 50-day simple moving average of C$53.95 and a 200 day simple moving average of C$50.66. Enbridge has a 52 week low of C$42.75 and a 52 week high of C$56.09. The stock has a market cap of C$120.45 billion, a PE ratio of 21.25, a PEG ratio of 0.75 and a beta of 0.90.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last posted its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The firm had revenue of C$11.34 billion for the quarter, compared to analyst estimates of C$5.86 billion. Equities research analysts predict that Enbridge will post 3.0366521 earnings per share for the current fiscal year.

Insider Activity at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of the 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 related news, Director Steven Walter Williams acquired 18,600 shares of the business's stock in a transaction that occurred on 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 company'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 value of C$37,977.60. 0.10% of the stock is currently 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.