Enbridge (TSE:ENB) Price Target Raised to C$65.00 at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its target price raised by equities researchers at Scotiabank from C$61.00 to C$65.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 0.45% from the company’s previous close.

A number of other research firms have also recently commented on ENB. CIBC boosted their target price on shares of Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. boosted their target price on shares of Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. BMO Capital Markets increased their price objective on Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Royal Bank of Canada raised their price objective on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Finally, Raymond James lifted their price target on shares of Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$62.54.

Enbridge Stock Up 0.4 %

Enbridge stock traded up C$0.26 during trading hours on Thursday, reaching C$64.71. The stock had a trading volume of 1,256,986 shares, compared to its average volume of 8,868,919. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$65.62. The business’s 50 day moving average price is C$62.10 and its 200-day moving average price is C$57.95. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The company has a market cap of C$140.24 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.72 and a beta of 0.90.

Insider Activity

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. Insiders own 0.10% of the company’s stock.

About Enbridge

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.