Enbridge (TSE:ENB) Price Target Raised to C$58.50 at Raymond James

Enbridge (TSE:ENB – Get Rating) (NYSE:ENB) had its price target increased by Raymond James from C$54.50 to C$58.50 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price objective suggests a potential downside of 0.02% from the company’s current price.

A number of other research firms have also commented on ENB. Morgan Stanley lowered shares of Enbridge to a “hold” rating and set a C$60.00 target price for the company. in a report on Friday, January 7th. CIBC increased their target price on Enbridge from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research note on Monday, February 14th. Royal Bank of Canada set a C$60.00 target price on Enbridge and gave the stock an “outperform” rating in a report on Monday, February 14th. Credit Suisse Group upped their price target on Enbridge to C$62.00 and gave the company a “neutral” rating in a research note on Monday, April 11th. Finally, Scotiabank increased their target price on shares of Enbridge from C$58.00 to C$62.00 in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$57.36.

Shares of TSE ENB traded up C$0.22 during trading on Tuesday, reaching C$58.51. The company had a trading volume of 1,081,223 shares, compared to its average volume of 9,073,321. Enbridge has a 52 week low of C$45.76 and a 52 week high of C$58.97. The business’s 50 day moving average price is C$56.17 and its 200-day moving average price is C$52.79. The stock has a market cap of C$118.52 billion and a PE ratio of 20.39. The company has a debt-to-equity ratio of 120.82, a quick ratio of 0.36 and a current ratio of 0.49.

Enbridge (TSE:ENB – Get Rating) (NYSE:ENB) last posted its quarterly earnings data on Friday, February 11th. The company reported C$0.68 earnings per share for the quarter, missing the consensus estimate of C$0.78 by C($0.10). The company had revenue of C$12.47 billion for the quarter, compared to analysts’ expectations of C$12.79 billion. Equities analysts anticipate that Enbridge will post 3.2300001 earnings per share for the current year.

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of C$57.18, for a total value of C$57,180.00. Following the sale, the insider now owns 219,895 shares in the company, valued at C$12,573,596.10. Also, Senior Officer Vernon Dai-Chung Yu sold 7,593 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of C$56.74, for a total value of C$430,826.82. Following the completion of the sale, the insider now directly owns 168,775 shares of the company’s stock, valued at C$9,576,293.50. Insiders sold a total of 13,133 shares of company stock valued at $737,256 in the last 90 days.

About Enbridge (Get Rating)

Enbridge Inc 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.

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