Morgan Stanley Reiterates “C$64.00” Price Target for Enbridge (TSE:ENB)

Enbridge (TSE:ENB) (NYSE:ENB) has been given a C$64.00 target price by research analysts at Morgan Stanley in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 12.56% from the company’s current price.

Other research analysts also recently issued reports about the stock. CIBC lifted their target price on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their target price on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada lifted their price target on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, National Bankshares increased their price objective on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average price target of C$56.31.

Enbridge Price Performance

Shares of TSE ENB traded down C$0.18 during trading on Friday, hitting C$56.86. The company had a trading volume of 725,873 shares, compared to its average volume of 7,993,672. The company has a market cap of C$123.95 billion, a P/E ratio of 21.87, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The business’s 50-day moving average is C$55.09 and its 200 day moving average is C$51.46. Enbridge has a 52 week low of C$43.46 and a 52 week high of C$58.28.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The company had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. Equities research analysts predict that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Insider Activity

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

About Enbridge

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.