Enbridge (TSE:ENB) Price Target Raised to C$80.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price increased by analysts at Raymond James Financial from C$78.00 to C$80.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 7.18% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. National Bank Financial lifted their target price on Enbridge from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Monday. Scotiabank increased their target price on shares of Enbridge from C$77.00 to C$78.00 and gave the stock a “sector outperform” rating in a report on Monday. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and increased their target price for the stock from C$71.00 to C$76.00 in a report on Tuesday, February 17th. Royal Bank Of Canada increased their target price on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a report on Monday. Finally, ATB Cormark Capital Markets upped their price target on shares of Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$74.27.

Enbridge Trading Up 1.8%

ENB traded up C$1.31 during mid-day trading on Monday, hitting C$74.64. The stock had a trading volume of 6,370,507 shares, compared to its average volume of 8,351,692. The stock’s fifty day simple moving average is C$73.70 and its 200-day simple moving average is C$69.12. The company has a debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44. The firm has a market capitalization of C$162.89 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. Enbridge has a 1-year low of C$59.68 and a 1-year high of C$77.18.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. The firm had revenue of C$22.36 billion for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. 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.