National Bank Financial Boosts Enbridge (TSE:ENB) Price Target to C$72.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective hoisted by equities research analysts at National Bank Financial from C$71.00 to C$72.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price target would indicate a potential upside of 2.59% from the company’s current price.

Several other brokerages also recently weighed in on ENB. BMO Capital Markets upped their target price on shares of Enbridge from C$67.00 to C$70.00 in a research note on Thursday, December 4th. Scotiabank lifted their price objective on Enbridge from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating and reduced their target price for the company from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce cut their price target on shares of Enbridge from C$71.00 to C$69.00 in a report on Wednesday, December 17th. Finally, Royal Bank Of Canada increased their price target on shares of Enbridge from C$72.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$73.31.

Enbridge Stock Performance

ENB traded down C$3.12 on Tuesday, reaching C$70.18. The company had a trading volume of 6,281,935 shares, compared to its average volume of 8,972,060. The stock has a 50-day moving average price of C$66.00 and a 200-day moving average price of C$66.57. The stock has a market capitalization of C$153.20 billion, a PE ratio of 27.52, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. Enbridge has a 1 year low of C$56.51 and a 1 year high of C$73.71.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The business had revenue of C$17.18 billion for the quarter. As a group, research analysts forecast that Enbridge will post 3.511912 EPS for the current fiscal year.

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.