Enbridge (TSE:ENB) Stock Price Expected to Rise, TD Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by equities research analysts at TD from C$73.00 to C$79.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s target price points to a potential upside of 0.46% from the company’s current price.

Several other equities analysts have also commented on ENB. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the company from C$71.00 to C$76.00 in a research report on Tuesday, February 17th. Royal Bank Of Canada increased their price objective on shares of Enbridge from C$76.00 to C$79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the company from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. Finally, National Bank Financial increased their target price on shares of Enbridge from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$74.67.

Enbridge Price Performance

ENB stock traded down C$1.09 during trading on Tuesday, hitting C$78.64. 3,647,707 shares of the company’s stock traded hands, compared to its average volume of 8,689,533. Enbridge has a 52 week low of C$59.68 and a 52 week high of C$80.65. The company has a debt-to-equity ratio of 168.58, a quick ratio of 0.44 and a current ratio of 0.81. The business has a fifty day simple moving average of C$74.65 and a 200 day simple moving average of C$70.07. The stock has a market capitalization of C$171.73 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 1.72 and a beta of 0.87.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, May 8th. The company reported C$0.98 EPS for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. The business had revenue of C$22.36 billion during the quarter. As a group, research analysts expect that Enbridge will post 3.511912 EPS for the current fiscal year.

Insider Buying and Selling at Enbridge

In other news, Director Mayank Mulraj Ashar sold 3,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00. Following the sale, the director owned 42,000 shares of the company’s stock, valued at approximately C$3,312,540. This represents a 6.67% decrease in their ownership of the stock. Also, insider Melissa Marie Laforge sold 855 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the completion of the transaction, the insider directly owned 7,904 shares in the company, valued at C$633,584.64. This represents a 9.76% decrease in their position. In the last three months, insiders sold 8,855 shares of company stock worth $695,547. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.