Enbridge (TSE:ENB) Stock Price Expected to Rise, CIBC Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by equities researchers at CIBC from C$70.00 to C$71.00 in a research note issued to investors on Monday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 4.91% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada upped their target price on shares of Enbridge from C$67.00 to C$72.00 in a research report on Monday. Argus upgraded shares of Enbridge to a “strong-buy” rating in a research note on Tuesday, August 12th. Raymond James Financial raised their price objective on Enbridge from C$74.00 to C$76.00 in a research report on Monday. Barclays lifted their target price on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Finally, National Bankshares boosted their target price on Enbridge from C$64.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of C$69.50.

Enbridge Trading Up 0.8%

ENB stock opened at C$67.68 on Monday. 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 1-year low of C$56.51 and a 1-year high of C$70.39. The business has a 50 day simple moving average of C$67.30 and a two-hundred day simple moving average of C$64.70. The company has a market capitalization of C$147.58 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.72 and a beta of 0.91.

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.