ATB Cormark Capital Markets Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its target price increased by stock analysts at ATB Cormark Capital Markets from C$72.00 to C$78.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price suggests a potential upside of 11.14% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Enbridge from C$67.00 to C$72.00 in a research note on Monday, November 10th. National Bank Financial raised their target price on Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Canadian Imperial Bank of Commerce dropped their target price on Enbridge from C$71.00 to C$69.00 in a report on Wednesday, December 17th. Jefferies Financial Group decreased their target price on shares of Enbridge from C$73.00 to C$71.00 in a research report on Tuesday, December 23rd. Finally, BMO Capital Markets increased their target price on Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of C$73.31.

Enbridge Price Performance

Shares of ENB stock traded down C$3.12 during trading hours on Tuesday, hitting C$70.18. The stock had a trading volume of 6,281,935 shares, compared to its average volume of 8,972,060. The stock’s 50-day moving average price is C$66.00 and its two-hundred day moving average price is C$66.57. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The stock has a market capitalization of C$153.20 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.72 and a beta of 0.95. Enbridge has a one year low of C$56.51 and a one year high of C$73.71.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. The business had revenue of C$17.18 billion during the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. Equities analysts forecast that Enbridge will post 3.511912 EPS for the current year.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.