Barclays Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by investment analysts at Barclays from C$54.00 to C$59.00 in a research report issued on Monday,BayStreet.CA reports. Barclays‘s price objective would suggest a potential upside of 0.39% from the stock’s current price.

A number of other brokerages also recently issued reports on ENB. JPMorgan Chase & Co. raised their price target on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. CIBC increased their price objective on shares of Enbridge from C$59.00 to C$67.00 in a research note on Monday, November 4th. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$57.54.

Enbridge Stock Performance

Shares of ENB stock opened at C$58.77 on Monday. The company’s 50-day moving average is C$56.05 and its 200 day moving average is C$52.31. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The company has a market capitalization of C$128.12 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a one year low of C$45.05 and a one year high of C$59.94.

Insider Activity

In other news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred 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.

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.