CIBC Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its target price increased by equities research analysts at CIBC from C$63.00 to C$66.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 5.20% from the company’s current price.

ENB has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. BMO Capital Markets raised their price target on shares of Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Morgan Stanley set a C$64.00 target price on Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Raymond James upped their price target on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of C$61.33.

Enbridge Trading Down 0.4 %

TSE ENB opened at C$62.74 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$63.40. The business has a 50 day moving average price of C$60.13 and a 200-day moving average price of C$55.55. The company has a market cap of C$136.77 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.72 and a beta of 0.90.

Insider Buying and Selling at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. 0.10% of the stock is owned by corporate insiders.

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.