JPMorgan Chase & Co. Boosts Enbridge (TSE:ENB) Price Target to C$60.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by equities research analysts at JPMorgan Chase & Co. from C$57.00 to C$60.00 in a research report issued on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.35% from the stock’s previous close.

ENB has been the topic of a number of other research reports. National Bankshares boosted their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$55.00 to C$58.00 in a research report on Monday. BMO Capital Markets raised their price objective on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. CIBC upped their target price on Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Finally, Scotiabank downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of C$55.25.

Enbridge Stock Down 1.0 %

ENB traded down C$0.55 during trading on Thursday, hitting C$54.87. The company had a trading volume of 1,442,872 shares, compared to its average volume of 8,018,822. The firm’s 50-day moving average price is C$53.85 and its 200 day moving average price is C$50.63. The company has a market capitalization of C$119.62 billion, a PE ratio of 21.10, a PEG ratio of 0.75 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a one year low of C$42.75 and a one year high of C$56.09.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The firm had revenue of C$11.34 billion for the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. As a group, equities analysts expect that Enbridge will post 3.0366521 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. In other Enbridge news, Director Steven Walter Williams purchased 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.