Enbridge (TSE:ENB) Stock Price Expected to Rise, National Bank Financial Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by equities researchers at National Bank Financial from C$73.00 to C$81.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 6.29% from the stock’s current price.

Several other equities analysts have also recently commented on ENB. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating and increased their price target for the stock from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. Barclays increased their price target on shares of Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. TD raised their target price on shares of Enbridge from C$73.00 to C$79.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Royal Bank Of Canada raised 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, Scotiabank raised their target price on shares of Enbridge from C$77.00 to C$78.00 and gave the stock a “sector outperform” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of C$75.33.

Enbridge Stock Up 0.8%

TSE:ENB traded up C$0.57 on Monday, reaching C$76.21. The stock had a trading volume of 1,869,222 shares, compared to its average volume of 8,834,068. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. The company has a 50-day moving average of C$74.91 and a 200 day moving average of C$70.37. The stock has a market cap of C$166.42 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. Enbridge has a 12-month low of C$59.68 and a 12-month high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results 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 for the quarter. On average, research analysts predict that Enbridge will post 3.511912 earnings per share for the current year.

Insider Buying and Selling at Enbridge

In other news, Director Mayank Mulraj Ashar sold 5,000 shares of Enbridge stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$78.08, for a total transaction of C$390,400.00. Following the sale, the director directly owned 45,000 shares in the company, valued at approximately C$3,513,600. The trade was a 10.00% decrease in their position. Also, insider Melissa Marie Laforge sold 855 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 7,904 shares in the company, valued at C$633,584.64. The trade was a 9.76% decrease in their ownership of the stock. Insiders sold a total of 8,855 shares of company stock worth $695,547 in the last quarter. Insiders own 0.10% of the company’s stock.

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.