Royal Bank of Canada Increases Enbridge (TSE:ENB) Price Target to C$59.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target raised by analysts at Royal Bank of Canada from C$55.00 to C$59.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.81% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. National Bankshares lifted their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. Scotiabank lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. CIBC lifted their price target on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$55.25.

Enbridge Price Performance

Shares of ENB opened at C$55.76 on Thursday. The firm has a market cap of C$121.56 billion, a PE ratio of 21.45, a PEG ratio of 0.75 and a beta of 0.90. The firm’s 50 day moving average price is C$54.05 and its 200 day moving average price is C$50.72. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. Enbridge has a twelve month low of C$42.87 and a twelve month high of C$56.09.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The firm had revenue of C$11.34 billion during the quarter, compared to the consensus estimate of C$5.86 billion. As a group, research analysts expect that Enbridge will post 3.0366521 EPS for the current fiscal year.

Insider Activity at Enbridge

In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by insiders.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.