Enbridge (TSE:ENB) Stock Price Expected to Rise, National Bank Financial Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by analysts at National Bank Financial from C$73.00 to C$81.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 6.29% from the company’s current price.

ENB has been the topic of several other reports. TD increased their price objective on shares of Enbridge from C$73.00 to C$79.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. ATB Cormark Capital Markets increased their price objective on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the company from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. Royal Bank Of Canada raised their price target on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Raymond James Financial raised their price target on shares of Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$75.33.

Enbridge Stock Performance

ENB stock traded up C$0.57 during trading hours on Monday, reaching C$76.21. The stock had a trading volume of 1,869,222 shares, compared to its average volume of 8,834,068. The stock has a market capitalization of C$166.42 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. The stock has a 50-day simple moving average of C$74.91 and a 200 day simple moving average of C$70.37. Enbridge has a fifty-two week low of C$59.68 and a fifty-two week high of C$80.65. The company has a debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. The company had revenue of C$22.36 billion for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. Analysts predict that Enbridge will post 3.511912 EPS for the current fiscal year.

Insider Activity at Enbridge

In related news, Director Mayank Mulraj Ashar sold 3,000 shares of Enbridge stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total transaction of C$236,610.00. Following the sale, the director directly owned 42,000 shares in the company, valued at C$3,312,540. This trade represents a 6.67% decrease in their position. Also, insider Melissa Marie Laforge sold 855 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the sale, the insider owned 7,904 shares of the company’s stock, valued at C$633,584.64. This trade represents a 9.76% decrease in their position. Over the last quarter, insiders have sold 8,855 shares of company stock worth $695,547. 0.10% of the stock is owned by corporate insiders.

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.