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

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by stock analysts at ATB Capital from C$66.00 to C$67.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s target price would indicate a potential upside of 3.68% from the company’s current price.

ENB has been the subject of a number of other research reports. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating and increased their target price for the stock from C$65.00 to C$72.00 in a research report on Wednesday, July 23rd. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. BMO Capital Markets lifted their price objective on shares of Enbridge from C$60.00 to C$63.00 in a research note on Monday, May 12th. Finally, Echelon Wealth Partners boosted their target price on shares of Enbridge from C$67.00 to C$74.00 in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of C$67.07.

Enbridge Stock Up 0.3%

ENB stock opened at C$64.62 on Tuesday. Enbridge has a fifty-two week low of C$52.51 and a fifty-two week high of C$65.62. The stock has a fifty day moving average of C$62.22 and a 200-day moving average of C$62.41. The company has a market capitalization of C$140.05 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62.

Insider Activity

In related news, Senior Officer Maximilian Chan sold 801 shares of Enbridge stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of C$63.17, for a total transaction of C$50,599.17. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.