Enbridge (TSE:ENB) Price Target Raised to C$79.00 at Royal Bank Of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price target hoisted by equities research analysts at Royal Bank Of Canada from C$76.00 to C$79.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 5.84% from the company’s previous close.

A number of other research analysts have also recently commented on ENB. ATB Cormark Capital Markets upped their target price on Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Scotiabank upped their target price on Enbridge from C$77.00 to C$78.00 and gave the company a “sector outperform” rating in a research note on Monday. Raymond James Financial upped their target price on Enbridge from C$75.00 to C$77.00 and gave the company a “moderate buy” rating in a research note on Tuesday, February 17th. TD Securities cut Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. Finally, Barclays increased their price objective on Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of C$74.27.

Enbridge Trading Up 1.8%

Shares of ENB traded up C$1.31 during mid-day trading on Monday, reaching C$74.64. 6,370,507 shares of the company’s stock traded hands, compared to its average volume of 8,351,692. The stock has a market cap of C$162.89 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.72 and a beta of 0.87. The stock’s 50-day moving average is C$73.70 and its two-hundred day moving average is C$69.12. Enbridge has a 12 month low of C$59.68 and a 12 month high of C$77.18. The company has a debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44.

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