Enbridge (TSE:ENB) Price Target Raised to C$84.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price upped by stock analysts at Scotiabank from C$78.00 to C$84.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 7.66% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada lifted their target price on Enbridge from C$76.00 to C$79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. TD increased their price target on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research report on Thursday, June 25th. National Bank Financial raised their price objective on shares of Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Barclays lifted their price objective on shares of Enbridge from C$68.00 to C$73.00 in a report on Tuesday, April 7th. Finally, Raymond James Financial upped their target price on shares of Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$76.00.

Enbridge Trading Down 0.4%

Shares of TSE ENB traded down C$0.34 during midday trading on Tuesday, reaching C$78.02. 1,323,528 shares of the stock were exchanged, compared to its average volume of 8,029,138. Enbridge has a twelve month low of C$61.11 and a twelve month high of C$80.65. The company has a debt-to-equity ratio of 168.58, a quick ratio of 0.44 and a current ratio of 0.81. The stock has a market capitalization of C$170.37 billion, a P/E ratio of 26.45, a PEG ratio of 1.72 and a beta of 0.73. The company has a 50 day simple moving average of C$77.88 and a 200 day simple moving average of C$73.32.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The company reported C$0.98 EPS for the quarter. Enbridge had a net margin of 9.43% and a return on equity of 11.11%. The firm had revenue of C$22.36 billion for the quarter. As a group, equities analysts expect that Enbridge will post 3.511912 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mayank Mulraj Ashar sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00. Following the sale, the director owned 42,000 shares of the company’s stock, valued at C$3,312,540. This trade represents a 6.67% decrease in their ownership of the stock. Also, insider Melissa Marie Laforge sold 855 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the completion of the sale, the insider directly owned 7,904 shares in the company, valued at approximately C$633,584.64. This trade represents a 9.76% decrease in their position. Insiders have sold 8,855 shares of company stock worth $695,547 over the last 90 days. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.