Enbridge (TSE:ENB) Given New C$76.00 Price Target at Royal Bank Of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by Royal Bank Of Canada from C$72.00 to C$76.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 8.29% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on ENB. ATB Cormark Capital Markets increased their target price 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. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from C$74.00 to C$69.00 in a report on Tuesday, January 27th. National Bank Financial increased their price objective on shares of Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and upped their target price for the stock from C$70.00 to C$72.00 in a research report on Tuesday. Finally, BMO Capital Markets lifted their price objective on Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. One 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 stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of C$73.31.

Enbridge Stock Performance

TSE ENB traded down C$3.12 during midday trading on Tuesday, hitting C$70.18. The company had a trading volume of 6,281,935 shares, compared to its average volume of 8,972,060. Enbridge has a fifty-two week low of C$56.51 and a fifty-two week high of C$73.71. The stock has a market cap of C$153.20 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.72 and a beta of 0.95. The firm has a fifty day simple moving average of C$66.00 and a two-hundred day simple moving average of C$66.57. 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 (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. The business had revenue of C$17.18 billion during the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. Equities analysts forecast that Enbridge will post 3.511912 earnings per share for the current fiscal 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.