Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) had its price target hoisted by equities researchers at Raymond James from C$54.00 to C$59.00 in a report released on Tuesday, BayStreet.CA reports. Raymond James’ target price would suggest a potential upside of 3.49% from the company’s previous close.
Other analysts have also issued reports about the company. CIBC increased their target price on Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Royal Bank of Canada raised their target price on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. National Bankshares upped their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their target price on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$55.67.
Read Our Latest Research Report on ENB
Enbridge Stock Performance
Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The company had revenue of C$11.34 billion during the quarter, compared to the consensus estimate of C$5.86 billion. Analysts anticipate that Enbridge will post 3.511912 earnings per share for the current year.
Insider Buying and Selling at Enbridge
In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of Enbridge stock in a transaction that occurred on 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. In other news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Also, Director Steven Walter Williams acquired 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Corporate insiders own 0.10% of the company’s stock.
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.
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