CIBC Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its price target hoisted by CIBC from C$59.00 to C$67.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 18.69% from the stock’s previous close.

Several other research firms have also recently issued reports on ENB. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the company from C$55.00 to C$58.00 in a report on Monday, September 30th. National Bankshares boosted 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 report on Friday, August 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price of C$56.92.

Enbridge Trading Up 0.1 %

Shares of ENB stock traded up C$0.03 during trading hours on Monday, reaching C$56.45. 1,347,442 shares of the stock were exchanged, compared to its average volume of 7,950,890. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$58.28. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The company’s 50-day moving average price is C$55.48 and its 200-day moving average price is C$51.85. The firm has a market capitalization of C$123.06 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The company had revenue of C$11.34 billion during the quarter, compared to analysts’ expectations of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. As a group, equities analysts anticipate that Enbridge will post 3.511912 earnings per share for the current year.

Insider Buying and Selling at Enbridge

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