Barclays Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by research analysts at Barclays from C$59.00 to C$64.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Barclays‘s target price would suggest a potential upside of 2.07% from the company’s current price.

Several other brokerages also recently issued reports on ENB. Scotiabank upped their price target on shares of Enbridge from C$57.00 to C$61.00 in a report on Wednesday, December 4th. Royal Bank of Canada lifted their price target on Enbridge from C$59.00 to C$63.00 in a research note on Wednesday, December 4th. CIBC boosted their price target on Enbridge from C$61.00 to C$63.00 in a report on Wednesday, December 4th. BMO Capital Markets raised their price objective on shares of Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price of C$61.08.

Enbridge Trading Up 1.8 %

Shares of Enbridge stock opened at C$62.70 on Monday. The firm’s 50 day moving average is C$59.73 and its 200 day moving average is C$55.23. The firm has a market capitalization of C$136.69 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a 1 year low of C$45.05 and a 1 year high of C$62.82. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26.

Insider Transactions at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Corporate insiders own 0.10% of the company’s stock.

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.