Royal Bank of Canada Raises Enbridge (TSE:ENB) Price Target to C$65.00

Enbridge (TSE:ENBGet Rating) (NYSE:ENB) had its price target increased by analysts at Royal Bank of Canada from C$60.00 to C$65.00 in a research note issued on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 14.44% from the company’s previous close.

Several other analysts also recently weighed in on ENB. Tudor Pickering & Holt set a C$53.00 price objective on Enbridge and gave the company a “hold” rating in a report on Friday, February 11th. National Bankshares lifted their price objective on Enbridge from C$57.00 to C$60.00 and gave the company an “outperform” rating in a report on Monday. TD Securities lifted their price objective on Enbridge from C$59.00 to C$61.00 and gave the company a “buy” rating in a report on Friday, April 1st. Tudor Pickering reiterated a “hold” rating and issued a C$53.00 target price on shares of Enbridge in a report on Monday, February 14th. Finally, Raymond James set a C$58.50 target price on shares of Enbridge and gave the stock a “market perform” rating in a report on Monday. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$58.03.

TSE ENB traded down C$1.67 on Monday, hitting C$56.80. 4,456,894 shares of the stock were exchanged, compared to its average volume of 8,891,224. Enbridge has a 52-week low of C$45.76 and a 52-week high of C$59.09. The firm has a market capitalization of C$115.05 billion and a P/E ratio of 19.79. The stock has a fifty day moving average price of C$57.20 and a two-hundred day moving average price of C$53.34. 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:ENBGet Rating) (NYSE:ENB) last released its earnings results 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 firm had revenue of C$12.47 billion during the quarter, compared to analyst estimates of C$12.79 billion. Sell-side analysts expect that Enbridge will post 3.1900001 earnings per share for the current fiscal year.

In related news, Senior Officer Vernon Dai-Chung Yu sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of C$53.86, for a total value of C$177,738.00. Following the sale, the insider now owns 171,183 shares in the company, valued at C$9,219,916.38. Also, Senior Officer Colin Kenneth Gruending sold 1,240 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of C$57.67, for a total value of C$71,510.80. Following the completion of the sale, the insider now owns 73,384 shares in the company, valued at approximately C$4,232,055.28. In the last quarter, insiders sold 13,133 shares of company stock worth $737,256.

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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