Enbridge (TSE:ENB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by research analysts at Wells Fargo & Company from C$57.00 to C$60.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Wells Fargo & Company‘s target price indicates a potential downside of 1.72% from the stock’s current price.

ENB has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of Enbridge from C$60.00 to C$66.00 in a research note on Thursday, November 21st. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and raised their price target for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. 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. CIBC raised their price target on shares of Enbridge from C$61.00 to C$63.00 in a research report on Wednesday. Finally, Scotiabank raised their price target on shares of Enbridge from C$57.00 to C$61.00 in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average target price of C$60.31.

Enbridge Stock Down 0.9 %

Enbridge stock opened at C$61.05 on Thursday. Enbridge has a 1-year low of C$45.05 and a 1-year high of C$61.99. The firm has a market capitalization of C$133.09 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The firm’s fifty day moving average price is C$57.88 and its two-hundred day moving average price is C$53.49. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Insiders own 0.10% of the company’s stock.

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.