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’ price target would suggest a potential downside of 2.01% from the stock’s current price.

Several other brokerages have also recently weighed in on ENB. Morgan Stanley set a C$64.00 target price on Enbridge and gave the stock an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Enbridge from C$60.00 to C$66.00 in a report on Thursday, November 21st. Raymond James upped their price objective on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Barclays upped their price objective on Enbridge from C$54.00 to C$59.00 in a report on Monday, November 11th. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and upped their price objective for the company from C$55.00 to C$58.00 in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$59.15.

Enbridge Price Performance

Shares of Enbridge stock traded up C$0.05 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 stock has a market capitalization of C$133.48 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a 50-day moving average price of C$57.63 and a 200 day moving average price of C$53.35. Enbridge has a 1-year low of C$45.05 and a 1-year high of C$61.89. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26.

Insider Activity at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. 0.10% of the stock is owned by insiders.

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.