National Bank Financial Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by equities researchers at National Bank Financial from C$71.00 to C$72.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price target points to a potential upside of 2.59% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. ATB Cormark Capital Markets raised their price objective on shares of Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$70.00 to C$72.00 in a research report on Tuesday. BMO Capital Markets upped their price objective on Enbridge from C$67.00 to C$70.00 in a research note on Thursday, December 4th. Finally, Royal Bank Of Canada increased their price objective on shares of Enbridge from C$72.00 to C$76.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.31.

Enbridge Price Performance

ENB traded down C$3.12 during midday trading on Tuesday, hitting C$70.18. The company had a trading volume of 6,281,935 shares, compared to its average volume of 8,972,060. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The company has a market capitalization of C$153.20 billion, a PE ratio of 27.52, a P/E/G ratio of 1.72 and a beta of 0.95. Enbridge has a twelve month low of C$56.51 and a twelve month high of C$73.71. The firm’s 50-day simple moving average is C$66.00 and its 200-day simple moving average is C$66.57.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, February 13th. The company reported C$0.88 EPS for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The firm had revenue of C$17.18 billion during the quarter. Equities research analysts predict that Enbridge will post 3.511912 EPS for the current fiscal 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.