Enbridge (TSE:ENB) Price Target Raised to C$73.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective increased by research analysts at Barclays from C$68.00 to C$73.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Barclays‘s target price suggests a potential downside of 3.17% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Scotiabank boosted their price target on shares of Enbridge from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Raymond James Financial boosted their target price on shares of Enbridge from C$75.00 to C$77.00 and gave the company a “moderate buy” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce decreased their target price on shares of Enbridge from C$71.00 to C$69.00 in a report on Wednesday, December 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating and decreased their target price for the company from C$74.00 to C$69.00 in a report on Tuesday, January 27th. Finally, National Bank Financial boosted their target price on shares of Enbridge from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$73.58.

Enbridge Price Performance

ENB traded up C$0.61 on Tuesday, reaching C$75.39. 1,560,821 shares of the company’s stock were exchanged, compared to its average volume of 8,273,445. The stock has a market cap of C$164.53 billion, a PE ratio of 23.41, a P/E/G ratio of 1.72 and a beta of 0.79. Enbridge has a twelve month low of C$56.51 and a twelve month high of C$77.18. The stock’s fifty day moving average price is C$72.01 and its 200-day moving average price is C$68.39. The company has a debt-to-equity ratio of 170.86, a current ratio of 0.63 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. The firm had revenue of C$17.18 billion for the quarter. Enbridge had a net margin of 11.50% and a return on equity of 12.34%. Sell-side analysts expect that Enbridge will post 3.511912 EPS for the current year.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.