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

Enbridge (TSE:ENB) (NYSE:ENB) had its target price increased by stock analysts at CIBC from C$61.00 to C$63.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 2.22% from the company’s previous close.

Several other research firms have also commented on ENB. Scotiabank upped their price objective on Enbridge from C$57.00 to C$61.00 in a research report on Wednesday. BMO Capital Markets raised their price target on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. National Bankshares lifted their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Raymond James increased their target price on shares of Enbridge from C$59.00 to C$63.00 in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada lifted their price target on Enbridge from C$59.00 to C$63.00 in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$60.31.

Enbridge Stock Performance

Shares of ENB stock opened at C$61.63 on Wednesday. The stock has a market cap of C$134.35 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a 52-week low of C$45.05 and a 52-week high of C$61.99. The business has a 50-day simple moving average of C$57.88 and a 200-day simple moving average of C$53.49. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26.

Insider Activity

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

Enbridge Company Profile

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.