Barclays Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its target price boosted by equities researchers at Barclays from C$54.00 to C$59.00 in a report released on Monday,BayStreet.CA reports. Barclays‘s price objective suggests a potential upside of 0.39% from the company’s previous close.

Several other research analysts also recently commented on ENB. CIBC lifted their target price on shares of Enbridge from C$59.00 to C$67.00 in a research note on Monday, November 4th. BMO Capital Markets lifted their target price on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. National Bankshares lifted their target price on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$57.54.

Enbridge Trading Down 1.3 %

ENB stock opened at C$58.77 on Monday. The company has a market capitalization of C$128.12 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a one year low of C$45.05 and a one year high of C$59.94. The company’s 50 day moving average price is C$56.05 and its two-hundred day moving average price is C$52.31. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Insiders own 0.10% of the company’s stock.

About Enbridge

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.