Enbridge (TSE:ENB) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by equities research analysts at Royal Bank of Canada from C$59.00 to C$63.00 in a research note issued on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 2.22% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Barclays boosted their price target on shares of Enbridge from C$54.00 to C$59.00 in a research note on Monday, November 11th. Wells Fargo & Company upgraded Enbridge from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on Enbridge from C$60.00 to C$66.00 in a report on Thursday, November 21st. Finally, Scotiabank lifted their price target on Enbridge from C$57.00 to C$61.00 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 stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average price target of C$60.31.

Enbridge Trading Up 0.4 %

Shares of ENB stock opened at C$61.63 on Wednesday. The business has a 50-day moving average price of C$57.88 and a two-hundred day moving average price of C$53.49. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$61.99. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The firm has a market cap of C$134.35 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Insider Activity at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is currently owned by corporate 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.