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

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective increased by analysts at Raymond James from C$59.00 to C$63.00 in a research report issued on Tuesday,BayStreet.CA reports. Raymond James’ price objective would suggest a potential upside of 5.47% from the stock’s previous close.

A number of other analysts also recently weighed in on ENB. Barclays increased their price objective on Enbridge from C$54.00 to C$59.00 in a report on Monday, November 11th. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. CIBC increased their price objective on Enbridge from C$59.00 to C$67.00 in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Enbridge from C$60.00 to C$66.00 in a report on Thursday, November 21st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$58.31.

Enbridge Price Performance

Shares of ENB stock traded down C$0.28 during trading on Tuesday, hitting C$59.73. The company had a trading volume of 1,211,864 shares, compared to its average volume of 8,516,736. 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 firm has a market capitalization of C$130.21 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The stock’s 50-day moving average price is C$57.00 and its 200 day moving average price is C$52.96. Enbridge has a one year low of C$45.05 and a one year high of C$61.09.

Insider Transactions at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. 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.