Raymond James Trims Enbridge Inc. (ENB.TO) (TSE:ENB) Target Price to C$49.00

Enbridge Inc. (ENB.TO) (TSE:ENB) (NYSE:ENB) had its price objective trimmed by Raymond James from C$52.00 to C$49.00 in a report released on Wednesday, AnalystRatings.net reports. The firm currently has an outperform rating on the stock. Raymond James also issued estimates for Enbridge Inc. (ENB.TO)’s FY2020 earnings at $2.63 EPS and FY2021 earnings at $2.91 EPS.

A number of other analysts have also recently commented on the stock. Evercore ISI restated an outperform rating and issued a C$55.00 price objective on shares of Enbridge Inc. (ENB.TO) in a research report on Tuesday, June 16th. CSFB reiterated a neutral rating on shares of Enbridge Inc. (ENB.TO) in a report on Wednesday. Evercore set a C$55.00 target price on Enbridge Inc. (ENB.TO) and gave the stock an outperform rating in a report on Tuesday, June 16th. CIBC increased their target price on Enbridge Inc. (ENB.TO) from C$47.00 to C$48.00 in a report on Thursday, July 30th. Finally, Citigroup upgraded Enbridge Inc. (ENB.TO) from a neutral rating to a buy rating and increased their target price for the stock from C$46.00 to C$50.00 in a report on Monday, August 17th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of C$53.17.

ENB opened at C$38.86 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 97.75. Enbridge Inc. has a 12 month low of C$33.06 and a 12 month high of C$57.32. The company has a fifty day simple moving average of C$40.34 and a 200 day simple moving average of C$41.87. The stock has a market cap of $78.70 billion and a P/E ratio of 41.34.

Enbridge Inc. (ENB.TO) (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.56 EPS for the quarter, meeting the Zacks’ consensus estimate of C$0.56. The firm had revenue of C$7.96 billion during the quarter, compared to the consensus estimate of C$11.48 billion. On average, equities research analysts expect that Enbridge Inc. will post 2.7483411 earnings per share for the current fiscal year.

Enbridge Inc. (ENB.TO) Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Analyst Recommendations for Enbridge Inc. (ENB.TO) (TSE:ENB)

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