Jefferies Financial Group Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its price target raised by analysts at Jefferies Financial Group from C$72.00 to C$73.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 11.09% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Argus raised shares of Enbridge to a “strong-buy” rating in a research report on Tuesday, August 12th. ATB Capital raised their target price on shares of Enbridge from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating and raised their target price for the company from C$68.00 to C$70.00 in a research note on Thursday, October 9th. Barclays raised their target price on shares of Enbridge from C$65.00 to C$68.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Scotiabank raised their target price on shares of Enbridge from C$65.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$68.14.

Enbridge Trading Up 0.9%

Shares of TSE:ENB opened at C$65.71 on Wednesday. The company’s 50-day moving average price is C$67.27 and its two-hundred day moving average price is C$64.47. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. Enbridge has a one year low of C$55.53 and a one year high of C$70.39. The stock has a market capitalization of C$143.28 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89.

About Enbridge

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.