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

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by analysts at Scotiabank from C$77.00 to C$78.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 4.50% from the company’s previous close.

A number of other analysts have also commented on ENB. Barclays lifted their target price on Enbridge from C$68.00 to C$73.00 in a report on Tuesday, April 7th. ATB Cormark Capital Markets lifted their target price on Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$71.00 to C$76.00 in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from C$74.00 to C$69.00 in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada lifted their price objective on Enbridge from C$72.00 to C$76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$74.27.

Enbridge Stock Up 1.8%

ENB stock traded up C$1.31 on Monday, reaching C$74.64. 6,370,507 shares of the company traded hands, compared to its average volume of 8,351,692. Enbridge has a one year low of C$59.68 and a one year high of C$77.18. The company has a debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44. The company has a market cap of C$162.89 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. The firm has a fifty day simple moving average of C$73.70 and a 200-day simple moving average of C$69.12.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. Enbridge had a return on equity of 11.41% and a net margin of 9.73%.The company had revenue of C$22.36 billion during the quarter. Research analysts anticipate 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.