CIBC Lowers Enbridge (TSE:ENB) Price Target to C$69.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lowered by investment analysts at CIBC from C$71.00 to C$69.00 in a report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 6.93% from the company’s current price.

Several other equities analysts also recently weighed in on ENB. Jefferies Financial Group raised their price target on Enbridge from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Scotiabank lifted their price objective on Enbridge from C$65.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, October 20th. BMO Capital Markets boosted their target price on shares of Enbridge from C$67.00 to C$70.00 in a research note on Thursday, December 4th. Barclays raised their price target on shares of Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Finally, Raymond James Financial lifted their price target on shares of Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of C$70.92.

Enbridge Price Performance

ENB traded up C$0.30 during midday trading on Wednesday, reaching C$64.53. 1,369,827 shares of the company’s stock were exchanged, compared to its average volume of 7,961,818. Enbridge has a 1-year low of C$56.51 and a 1-year high of C$70.39. The stock has a market capitalization of C$140.87 billion, a PE ratio of 25.31, a P/E/G ratio of 1.72 and a beta of 0.91. 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 business’s 50-day moving average price is C$66.64 and its 200 day moving average price is C$65.30.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The business had revenue of C$14.64 billion during the quarter. As a group, equities analysts anticipate that Enbridge will post 3.511912 EPS for the current fiscal year.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.