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

Enbridge (TSE:ENBGet Free Report) (NYSE:ENB) had its target price upped by equities researchers at CIBC from C$59.00 to C$67.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 17.96% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley set a C$64.00 price target on Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. National Bankshares boosted their target price on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. BMO Capital Markets upped their target price on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and upped their price objective for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of C$56.92.

Check Out Our Latest Stock Analysis on ENB

Enbridge Stock Performance

Shares of ENB opened at C$56.80 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The stock has a 50-day moving average price of C$55.62 and a 200-day moving average price of C$52.00. The company has a market cap of C$123.82 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$58.28.

Insider Buying and Selling

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred 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. In related news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction 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 bought 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, with a total value of C$999,564.00. 0.10% of the stock is owned by insiders.

Enbridge Company Profile

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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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Analyst Recommendations for Enbridge (TSE:ENB)

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