Jefferies Financial Group Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its price target hoisted by stock analysts at Jefferies Financial Group from C$59.00 to C$65.00 in a report released on Thursday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 1.50% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Morgan Stanley set a C$64.00 price target on Enbridge and gave the stock an “equal weight” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their target price on Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. CIBC lifted their price objective on Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Finally, Barclays increased their price target on shares of Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of C$62.23.

Enbridge Price Performance

Shares of TSE:ENB traded up C$0.18 during trading hours on Thursday, hitting C$64.04. 474,575 shares of the company’s stock traded hands, compared to its average volume of 6,250,603. The company’s fifty day simple moving average is C$61.50 and its two-hundred day simple moving average is C$56.96. The company has a market cap of C$139.61 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. 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 52 week low of C$45.05 and a 52 week high of C$65.62.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.56 by C($0.01). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. During the same quarter in the previous year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Enbridge will post 3.511912 EPS for the current fiscal year.

Insider Buying and Selling

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. 0.10% of the stock is currently owned by insiders.

Enbridge Company Profile

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.