CIBC Boosts Enbridge (TSE:ENB) Price Target to C$59.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price hoisted by investment analysts at CIBC from C$57.00 to C$59.00 in a research note issued on Monday, BayStreet.CA reports. CIBC’s target price points to a potential upside of 19.92% from the stock’s previous close.

ENB has been the topic of several other research reports. BMO Capital Markets upped their target price on Enbridge from C$52.00 to C$54.00 and gave the company a “market perform” rating in a report on Monday, May 13th. National Bankshares increased their price objective on Enbridge from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Monday, May 13th. Jefferies Financial Group increased 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 price objective on Enbridge from C$45.00 to C$48.00 in a research note on Tuesday, June 4th. Finally, Scotiabank downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average target price of C$53.63.

Enbridge Stock Performance

TSE ENB traded down C$0.04 on Monday, reaching C$49.20. The stock had a trading volume of 758,047 shares, compared to its average volume of 7,681,243. Enbridge has a 12-month low of C$42.75 and a 12-month high of C$52.34. The company has a debt-to-equity ratio of 130.31, a quick ratio of 0.44 and a current ratio of 0.68. The business’s 50-day moving average price is C$49.21 and its 200 day moving average price is C$48.38. The stock has a market cap of C$104.80 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The company reported C$0.92 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.81 by C$0.11. Enbridge had a return on equity of 8.70% and a net margin of 13.81%. The firm had revenue of C$11.04 billion for the quarter, compared to analyst estimates of C$12.24 billion. As a group, equities analysts expect that Enbridge will post 2.8613689 earnings per share for the current year.

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.