Enbridge (TSE:ENB) Given New C$84.00 Price Target at Scotiabank

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

A number of other research analysts have also recently commented on ENB. TD upped their target price on Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a research note on Thursday, June 25th. National Bank Financial raised their price target on Enbridge from C$73.00 to C$81.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their price objective on Enbridge from C$76.00 to C$79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Barclays upped their price objective on Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. Finally, Raymond James Financial lifted their target price on Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research report 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$76.00.

Enbridge Price Performance

Shares of ENB traded down C$0.34 during trading hours on Tuesday, reaching C$78.02. 1,323,528 shares of the stock traded hands, compared to its average volume of 8,029,138. The company has a market cap of C$170.37 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.73. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. The company’s 50-day moving average price is C$77.88 and its two-hundred day moving average price is C$73.32. Enbridge has a 52-week low of C$61.11 and a 52-week high of C$80.65.

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

Insiders Place Their Bets

In other Enbridge news, Director Mayank Mulraj Ashar sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of C$78.87, for a total value of C$236,610.00. Following the completion of the sale, the director directly owned 42,000 shares in the company, valued at approximately C$3,312,540. This represents a 6.67% decrease in their position. Also, insider Melissa Marie Laforge sold 855 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately C$633,584.64. This trade represents a 9.76% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 8,855 shares of company stock valued at $695,547. 0.10% of the stock is currently owned by corporate insiders.

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.