Enbridge (TSE:ENB) Price Target Raised to C$56.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by Royal Bank of Canada from C$54.00 to C$56.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 12.00% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. GMP Securities cut their price objective on shares of Enbridge from C$60.00 to C$59.00 in a report on Tuesday, August 6th. Citigroup lifted their price objective on shares of Enbridge from C$46.00 to C$51.00 in a report on Thursday, November 7th. US Capital Advisors reissued an “overweight” rating on shares of Enbridge in a report on Friday, October 25th. CIBC cut their price target on shares of Enbridge from C$57.00 to C$56.00 in a report on Wednesday, October 23rd. Finally, BMO Capital Markets boosted their price target on shares of Enbridge from C$54.00 to C$55.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$55.10.

ENB traded down C$0.63 during mid-day trading on Monday, reaching C$50.00. 4,025,298 shares of the stock were exchanged, compared to its average volume of 4,850,400. The company has a debt-to-equity ratio of 92.29, a quick ratio of 0.51 and a current ratio of 0.63. The stock has a market capitalization of $102.48 billion and a PE ratio of 20.40. The company has a 50 day moving average price of C$47.66 and a two-hundred day moving average price of C$47.09. Enbridge has a 1 year low of C$39.69 and a 1 year high of C$51.38.

In related news, Senior Officer Bradley Francis Shamla sold 2,537 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$47.30, for a total value of C$120,000.10. Following the transaction, the insider now directly owns 46,035 shares of the company’s stock, valued at approximately C$2,177,455.50.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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