Enbridge (TSE:ENB) PT Set at C$64.00 by Morgan Stanley

Enbridge (TSE:ENB) (NYSE:ENB) received a C$64.00 price objective from Morgan Stanley in a report released on Friday, BayStreet.CA reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 12.42% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. CIBC lifted their target price on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Royal Bank of Canada lifted their price objective on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Raymond James increased their target price on Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Hold” and an average price target of C$56.31.

Enbridge Stock Down 0.2 %

Enbridge stock opened at C$56.93 on Friday. The firm has a 50 day moving average price of C$55.15 and a 200-day moving average price of C$51.50. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a twelve month low of C$43.46 and a twelve month high of C$58.28. The company has a market capitalization of C$124.11 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The firm had revenue of C$11.34 billion during the quarter, compared to analysts’ expectations of C$5.86 billion. As a group, equities analysts predict that Enbridge will post 3.511912 EPS for the current year.

Insider Transactions at Enbridge

In related news, Director Steven Walter Williams bought 18,600 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. In other news, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Also, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is owned by insiders.

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.