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

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by analysts at CIBC from C$63.00 to C$66.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 5.20% from the company’s previous close.

Several other analysts also recently weighed in on the company. Wells Fargo & Company upped their price objective on Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. Scotiabank raised their price target on shares of Enbridge from C$57.00 to C$61.00 in a research note on Wednesday, December 4th. 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. Royal Bank of Canada raised their target price on shares of Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Finally, Raymond James upped their price target on shares of Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of C$61.33.

Enbridge Stock Down 0.4 %

Shares of ENB opened at C$62.74 on Thursday. The firm has a 50 day simple moving average of C$60.13 and a two-hundred day simple moving average of C$55.55. The company has a market cap of C$136.77 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a one year low of C$45.05 and a one year high of C$63.40. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44.

Insider Transactions at Enbridge

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