CIBC Boosts Enbridge (TSE:ENB) Price Target to C$63.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective raised by stock analysts at CIBC from C$61.00 to C$63.00 in a report issued on Wednesday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 2.89% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Scotiabank lifted their price target on Enbridge from C$57.00 to C$61.00 in a research report on Wednesday. National Bankshares lifted their price target on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Barclays lifted their price target on Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Wells Fargo & Company upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price target on Enbridge from C$60.00 to C$66.00 in a research report on Thursday, November 21st. Eight 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 stock currently has a consensus rating of “Hold” and an average price target of C$59.15.

Enbridge Trading Up 0.1 %

Shares of ENB stock traded up C$0.05 during trading hours on Wednesday, reaching C$61.23. The company’s stock had a trading volume of 1,101,808 shares, compared to its average volume of 8,463,175. The stock has a market capitalization of C$133.48 billion, a P/E ratio of 23.55, a P/E/G 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$61.89. The firm’s fifty day simple moving average is C$57.63 and its 200 day simple moving average is C$53.35. 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 other news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction 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. 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.