Enbridge (TSE:ENB) Price Target Raised to C$76.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price lifted by equities researchers at Raymond James Financial from C$74.00 to C$76.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Raymond James Financial’s target price would suggest a potential upside of 13.53% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price objective on Enbridge from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Barclays lifted their target price on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. National Bankshares increased their price target on Enbridge from C$64.00 to C$65.00 and gave the company a “sector perform” rating in a report on Tuesday, August 5th. Scotiabank lifted their price objective on shares of Enbridge from C$65.00 to C$69.00 and gave the stock a “sector perform” rating in a research note on Monday, October 20th. Finally, Argus upgraded shares of Enbridge to a “strong-buy” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$69.50.

Enbridge Stock Performance

Shares of ENB remained flat at C$66.94 during mid-day trading on Monday. The stock had a trading volume of 5,820,256 shares, compared to its average volume of 7,892,297. 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 stock has a market cap of C$145.96 billion, a P/E ratio of 23.57, a PEG ratio of 1.72 and a beta of 0.91. Enbridge has a twelve month low of C$56.51 and a twelve month high of C$70.39. The stock has a 50-day simple moving average of C$67.26 and a 200-day simple moving average of C$64.65.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.