Enbridge (TSE:ENB) Price Target Cut to C$56.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective dropped by equities researchers at CIBC from C$57.00 to C$56.00 in a note issued to investors on Wednesday, BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 17.38% from the stock’s previous close.

A number of other analysts also recently issued reports on ENB. BMO Capital Markets lifted their price objective on shares of Enbridge from C$54.00 to C$55.00 in a report on Monday, September 9th. GMP Securities dropped their price objective on shares of Enbridge from C$60.00 to C$59.00 in a report on Tuesday, August 6th. Finally, Royal Bank of Canada dropped their price objective on shares of Enbridge from C$59.00 to C$54.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$55.33.

TSE:ENB traded up C$0.21 during trading hours on Wednesday, hitting C$47.71. The stock had a trading volume of 1,257,855 shares, compared to its average volume of 4,757,965. Enbridge has a one year low of C$39.40 and a one year high of C$51.22. The company has a debt-to-equity ratio of 92.29, a current ratio of 0.63 and a quick ratio of 0.51. The firm has a market capitalization of $96.13 billion and a price-to-earnings ratio of 19.49. The company has a 50 day simple moving average of C$46.56 and a two-hundred day simple moving average of C$47.19.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The company reported C$0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.55 by C$0.12. The company had revenue of C$13.26 billion for the quarter. Equities research analysts anticipate that Enbridge will post 2.7605829 earnings per share for the current year.

In other news, Senior Officer Bradley Francis Shamla sold 2,537 shares of Enbridge stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$47.30, for a total transaction of C$120,000.10. Following the completion of the sale, the insider now directly owns 46,035 shares of the company’s stock, valued at approximately C$2,177,455.50.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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