Enbridge (TSE:ENB) Price Target Raised to C$54.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective raised by stock analysts at JPMorgan Chase & Co. from C$53.00 to C$54.00 in a note issued to investors on Thursday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.84% from the stock’s current price.

Several other analysts have also weighed in on the company. lifted their price objective on Enbridge from C$50.00 to C$54.00 and gave the stock a “na” rating in a report on Tuesday, May 11th. Royal Bank of Canada reiterated an “outperform” rating and set a C$52.00 target price (up from C$51.00) on shares of Enbridge in a research report on Tuesday, June 8th. Barclays downgraded Enbridge from an “overweight” rating to an “equal weight” rating and set a C$50.00 price target on the stock. in a research note on Tuesday. CIBC raised their price target on Enbridge from C$52.00 to C$57.00 in a research report on Friday, June 18th. Finally, CSFB raised shares of Enbridge from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$52.00 to C$55.00 in a research note on Thursday, June 17th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$52.75.

Shares of TSE:ENB traded up C$0.15 during midday trading on Thursday, reaching C$48.72. The company had a trading volume of 794,872 shares, compared to its average volume of 8,609,061. Enbridge has a 1-year low of C$35.80 and a 1-year high of C$50.41. The company has a fifty day simple moving average of C$48.39. The company has a debt-to-equity ratio of 103.26, a quick ratio of 0.49 and a current ratio of 0.59. The company has a market capitalization of C$98.69 billion and a price-to-earnings ratio of 15.60.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, May 7th. The company reported C$0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.70 by C$0.11. The firm had revenue of C$12.19 billion for the quarter. As a group, sell-side analysts forecast that Enbridge will post 3.0499998 earnings per share for the current fiscal year.

Enbridge Company Profile

Enbridge Inc 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.

See Also: Environmental, Social, and Governance (ESG) Investing

Analyst Recommendations for Enbridge (TSE:ENB)

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