Enbridge (TSE:ENB) Given New C$62.00 Price Target at JPMorgan Chase & Co.

Enbridge (TSE:ENB – Get Rating) (NYSE:ENB) had its target price boosted by equities researchers at JPMorgan Chase & Co. from C$61.00 to C$62.00 in a report issued on Wednesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.58% from the stock’s current price.

A number of other research firms have also commented on ENB. Credit Suisse Group raised their price objective on Enbridge to C$62.00 and gave the stock a “neutral” rating in a research note on Monday, April 11th. Scotiabank raised their target price on shares of Enbridge from C$58.00 to C$62.00 in a report on Tuesday, April 19th. Wells Fargo & Company cut their price target on shares of Enbridge from C$64.00 to C$63.00 and set an “equal weight” rating for the company in a report on Friday, May 20th. CSFB lifted their price objective on shares of Enbridge from C$48.00 to C$62.00 in a research note on Monday, April 11th. Finally, CIBC upped their target price on Enbridge from C$58.00 to C$61.00 in a research note on Thursday, April 21st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$58.81.

Shares of TSE:ENB traded up C$0.07 on Wednesday, reaching C$57.63. 1,156,766 shares of the company’s stock were exchanged, compared to its average volume of 10,471,370. Enbridge has a twelve month low of C$45.88 and a twelve month high of C$59.09. The company has a fifty day moving average of C$57.30 and a 200-day moving average of C$53.69. The company has a market capitalization of C$116.78 billion and a price-to-earnings ratio of 20.02. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 118.98.

In other news, Senior Officer Cynthia Lynn Hansen sold 1,000 shares of the company’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of C$57.18, for a total value of C$57,180.00. Following the sale, the insider now directly owns 219,895 shares of the company’s stock, valued at approximately C$12,573,596.10. Also, Senior Officer Colin Kenneth Gruending sold 1,240 shares of Enbridge stock in a transaction on Friday, March 25th. The stock was sold at an average price of C$57.67, for a total transaction of C$71,510.80. Following the transaction, the insider now directly owns 73,384 shares of the company’s stock, valued at approximately C$4,232,055.28. In the last three months, insiders sold 13,133 shares of company stock worth $737,256.

Enbridge Company Profile (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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