TD Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price target hoisted by TD from C$79.00 to C$81.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD’s price objective points to a potential upside of 1.34% from the company’s current price.

A number of other research firms also recently commented on ENB. National Bank Financial lifted their target price on shares of Enbridge from C$73.00 to C$81.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Raymond James Financial increased their price target on Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Barclays raised their price target on Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. Scotiabank upped their price objective on Enbridge from C$77.00 to C$78.00 and gave the company a “sector outperform” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada upped their price target on shares of Enbridge from C$76.00 to C$79.00 and gave the company 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 assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$75.50.

Enbridge Stock Performance

ENB traded up C$1.13 during midday trading on Thursday, hitting C$79.93. 1,189,247 shares of the company traded hands, compared to its average volume of 8,589,099. The company’s 50-day moving average is C$75.99 and its 200 day moving average is C$71.69. The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58. The firm has a market capitalization of C$174.54 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. Enbridge has a 52 week low of C$59.68 and a 52 week high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The company reported C$0.98 EPS for the quarter. Enbridge had a net margin of 9.43% and a return on equity of 11.11%. The firm had revenue of C$22.36 billion during the quarter. On average, research analysts expect that Enbridge will post 3.511912 EPS for the current year.

Insiders Place Their Bets

In other Enbridge news, insider Melissa Marie Laforge sold 855 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total value of C$68,536.80. Following the completion of the sale, the insider owned 7,904 shares in the company, valued at C$633,584.64. This represents a 9.76% decrease in their ownership of the stock. Also, Director Mayank Mulraj Ashar sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total value of C$390,400.00. Following the completion of the transaction, the director directly owned 45,000 shares in the company, valued at C$3,513,600. This trade represents a 10.00% decrease in their position. Over the last ninety days, insiders sold 8,855 shares of company stock worth $695,547. 0.10% of the stock is owned by 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.