BMO Capital Markets Increases Enbridge (TSE:ENB) Price Target to C$56.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by equities researchers at BMO Capital Markets from C$54.00 to C$56.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 2.21% from the stock’s previous close.

Several other brokerages have also weighed in on ENB. Scotiabank lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. JPMorgan Chase & Co. lifted their price target on Enbridge from C$56.00 to C$57.00 in a research note on Wednesday, August 7th. Jefferies Financial Group upped their price objective on Enbridge from C$53.00 to C$55.00 in a research note on Monday, May 13th. Wells Fargo & Company increased their target price on Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. Finally, CIBC boosted their price target on Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$53.80.

Enbridge Trading Up 0.3 %

TSE:ENB opened at C$54.79 on Thursday. Enbridge has a one year low of C$42.75 and a one year high of C$55.16. The business’s 50-day simple moving average is C$51.71 and its 200 day simple moving average is C$49.65. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The stock has a market cap of C$119.44 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 0.75 and a beta of 0.91.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The business had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. As a group, sell-side analysts predict that Enbridge will post 2.7922146 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven Walter Williams bought 18,600 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of C$53.74 per share, for a total transaction of C$999,564.00. Corporate insiders own 0.10% of the company’s stock.

About Enbridge

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.