JPMorgan Chase & Co. Boosts Enbridge (TSE:ENB) Price Target to C$57.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective hoisted by JPMorgan Chase & Co. from C$56.00 to C$57.00 in a research report issued on Wednesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.55% from the company’s current price.

Several other equities research analysts have also commented on ENB. BMO Capital Markets upped their price target on shares of Enbridge from C$52.00 to C$54.00 and gave the company a “market perform” rating in a report on Monday, May 13th. Scotiabank downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. Jefferies Financial Group increased their target price on shares of Enbridge from C$53.00 to C$55.00 in a research note on Monday, May 13th. Stifel Nicolaus cut their price target on Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Finally, Wells Fargo & Company increased their price target on Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average price target of C$53.69.

Enbridge Stock Up 0.5 %

TSE ENB traded up C$0.24 during trading on Wednesday, hitting C$53.00. The company’s stock had a trading volume of 2,810,148 shares, compared to its average volume of 7,791,499. Enbridge has a fifty-two week low of C$42.75 and a fifty-two week high of C$53.30. The company has a debt-to-equity ratio of 130.31, a current ratio of 0.68 and a quick ratio of 0.44. The company has a market cap of C$112.89 billion, a PE ratio of 20.17, a P/E/G ratio of 0.75 and a beta of 0.88. The business’s 50 day simple moving average is C$49.38 and its 200-day simple moving average is C$48.62.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The company reported C$0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.81 by C$0.11. Enbridge had a net margin of 13.81% and a return on equity of 8.70%. The business had revenue of C$11.04 billion for the quarter, compared to analyst estimates of C$12.24 billion. On average, equities analysts anticipate that Enbridge will post 2.8613689 EPS for the current fiscal year.

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.