JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by stock analysts at JPMorgan Chase & Co. from C$66.00 to C$69.00 in a report issued on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.02% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Enbridge from C$57.00 to C$60.00 in a report on Thursday. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Scotiabank raised their price target on shares of Enbridge from C$57.00 to C$61.00 in a report on Wednesday. Royal Bank of Canada raised their price target on shares of Enbridge from C$59.00 to C$63.00 in a report on Wednesday. Finally, Barclays raised their price target on shares of Enbridge from C$54.00 to C$59.00 in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$60.31.

Enbridge Stock Down 0.9 %

TSE:ENB opened at C$61.05 on Thursday. The firm has a market cap of C$133.09 billion, a P/E ratio of 23.48, a P/E/G 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. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$61.99. The firm has a 50-day simple moving average of C$57.88 and a two-hundred day simple moving average of C$53.49.

Insider Buying and Selling

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge 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 transaction of C$37,977.60. 0.10% of the stock is currently 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.