Enbridge (TSE:ENB) Price Target Raised to C$77.00 at Raymond James Financial

Enbridge (TSE:ENB) (NYSE:ENB) had its target price raised by stock analysts at Raymond James Financial from C$75.00 to C$77.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 9.72% from the stock’s current price.

Other equities analysts have also issued reports about the company. Scotiabank lifted their price objective on Enbridge from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating and cut their target price for the company from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. ATB Cormark Capital Markets raised their target price on Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank Of Canada boosted their price target on Enbridge from C$72.00 to C$76.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Canadian Imperial Bank of Commerce reduced their price objective on shares of Enbridge from C$71.00 to C$69.00 in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.31.

Enbridge Trading Down 4.3%

TSE:ENB traded down C$3.12 during mid-day trading on Tuesday, hitting C$70.18. 6,281,935 shares of the company’s stock were exchanged, compared to its average volume of 8,972,060. Enbridge has a fifty-two week low of C$56.51 and a fifty-two week high of C$73.71. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm has a market capitalization of C$153.20 billion, a P/E ratio of 27.52, a PEG ratio of 1.72 and a beta of 0.95. The company has a 50 day simple moving average of C$66.00 and a 200-day simple moving average of C$66.57.

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

About Enbridge

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.