Enbridge (TSE:ENB) Price Target Raised to C$81.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by equities research analysts at TD from C$79.00 to C$81.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD’s price objective points to a potential upside of 1.34% from the company’s previous close.

ENB has been the subject of several other research reports. Raymond James Financial increased their target price on Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Scotiabank boosted their price target on Enbridge from C$77.00 to C$78.00 and gave the stock a “sector outperform” rating in a report on Monday, May 11th. Barclays upped their price target on Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. 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 report on Monday, May 11th. Finally, National Bank Financial lifted their price objective on shares of Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$75.50.

Enbridge Price Performance

Enbridge stock traded up C$1.13 during mid-day trading on Thursday, hitting C$79.93. The stock had a trading volume of 1,189,247 shares, compared to its average volume of 8,589,099. The firm has a market capitalization of C$174.54 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.72 and a beta of 0.74. 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 firm’s 50 day moving average is C$75.99 and its 200 day moving average is C$71.69. Enbridge has a one year low of C$59.68 and a one year high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.98 EPS for the quarter. Enbridge had a return on equity of 11.11% and a net margin of 9.43%.The business had revenue of C$22.36 billion for the quarter. On average, sell-side analysts forecast that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Insider Transactions at Enbridge

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

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.