Jefferies Financial Group Lowers Enbridge (TSE:ENB) Price Target to C$70.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price decreased by equities researchers at Jefferies Financial Group from C$79.00 to C$70.00 in a report issued on Tuesday, BayStreet reports. Jefferies Financial Group’s target price indicates a potential upside of 0.26% from the company’s current price.

A number of other brokerages have also recently commented on ENB. TD upped their price target on Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a research note on Thursday, June 25th. Scotiabank boosted their price objective on shares of Enbridge from C$78.00 to C$84.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Raymond James Financial downgraded shares of Enbridge from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their target price on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce raised shares of Enbridge from a “hold” rating to an “outperformer” rating and lifted their price target for the stock from C$77.00 to C$78.00 in a research report on Friday. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$76.25.

Enbridge Trading Down 0.6%

Shares of Enbridge stock traded down C$0.40 during trading on Tuesday, reaching C$69.82. 1,597,356 shares of the company were exchanged, compared to its average volume of 8,444,744. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 171.59. Enbridge has a twelve month low of C$62.42 and a twelve month high of C$80.65. The business has a 50-day moving average price of C$75.23 and a 200-day moving average price of C$74.91. The firm has a market capitalization of C$152.49 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 1.72 and a beta of 0.74.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, July 31st. The company reported C$0.63 EPS for the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%.The business had revenue of C$29.32 billion during the quarter. Sell-side analysts anticipate that Enbridge will post 3.511912 EPS for the current fiscal year.

About Enbridge

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.