Enbridge (TSE:ENB) Price Target Raised to C$66.00 at CIBC

by · The Cerbat Gem

Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) had its target price lifted by equities research analysts at CIBC from C$63.00 to C$66.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 4.80% from the stock’s current price.

Other research analysts have also issued reports about the stock. Raymond James upped their target price on shares of Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and raised their price target for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Scotiabank boosted their price objective on shares of Enbridge from C$57.00 to C$61.00 in a research note on Wednesday, December 4th. BMO Capital Markets upped their target price on Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average target price of C$61.33.

Read Our Latest Research Report on ENB

Enbridge Stock Performance

ENB traded down C$0.32 during trading on Thursday, hitting C$62.98. 435,967 shares of the stock were exchanged, compared to its average volume of 4,787,973. Enbridge has a 1-year low of C$45.05 and a 1-year high of C$63.40. 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 capitalization of C$137.30 billion, a P/E ratio of 24.22, a PEG ratio of 1.72 and a beta of 0.90. The stock has a fifty day moving average price of C$59.87 and a two-hundred day moving average price of C$55.33.

Insider Activity 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. 0.10% of the stock is owned by corporate insiders.

About Enbridge

(Get Free Report)

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.

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