Enbridge (TSE:ENB) Price Target Raised to C$60.00 at BMO Capital Markets

Enbridge (TSE:ENB) (NYSE:ENB) had its price target raised by equities research analysts at BMO Capital Markets from C$59.00 to C$60.00 in a research report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential downside of 2.01% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Morgan Stanley set a C$64.00 target price on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Scotiabank lifted their target price on shares of Enbridge from C$57.00 to C$61.00 in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of Enbridge from C$59.00 to C$63.00 in a research note on Wednesday. Finally, CIBC lifted their target price on shares of Enbridge from C$61.00 to C$63.00 in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus target price of C$59.15.

Enbridge Price Performance

Shares of Enbridge stock traded up C$0.05 during trading on Wednesday, hitting C$61.23. 1,101,808 shares of the company were exchanged, compared to its average volume of 8,463,175. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$61.89. The stock has a market capitalization of C$133.48 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 1.72 and a beta of 0.90. The firm has a 50 day moving average price of C$57.63 and a 200 day moving average price of C$53.35.

Insider Activity at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. Insiders own 0.10% of the company’s stock.

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.