Enbridge (TSE:ENB) Price Target Lowered to C$58.00 at Credit Suisse Group

Enbridge (TSE:ENBGet Rating) (NYSE:ENB) had its price target reduced by research analysts at Credit Suisse Group to C$58.00 in a report issued on Friday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 4.67% from the company’s previous close.

Several other equities research analysts have also issued reports on ENB. TD Securities lifted their target price on shares of Enbridge from C$61.00 to C$62.00 and gave the company a “buy” rating in a research report on Monday, May 9th. Royal Bank of Canada boosted their price objective on shares of Enbridge from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a report on Monday, May 9th. US Capital Advisors restated an “overweight” rating on shares of Enbridge in a report on Wednesday, June 1st. Wells Fargo & Company lowered their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Enbridge from C$61.00 to C$62.00 in a report on Wednesday, May 25th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.11.

Enbridge Price Performance

ENB stock opened at C$55.41 on Friday. Enbridge has a 12 month low of C$46.88 and a 12 month high of C$59.69. The firm has a market capitalization of C$112.28 billion and a P/E ratio of 19.24. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 118.98. The firm has a 50 day moving average of C$55.92 and a 200-day moving average of C$55.60.

Enbridge (TSE:ENBGet Rating) (NYSE:ENB) last announced its earnings results on Friday, May 6th. The company reported C$0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.85 by C($0.01). The business had revenue of C$15.10 billion for the quarter, compared to analyst estimates of C$13.13 billion. As a group, sell-side analysts predict that Enbridge will post 3.17 earnings per share for the current fiscal year.

About Enbridge

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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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