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

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by research analysts at National Bankshares from C$66.00 to C$71.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ price objective would indicate a potential upside of 10.03% from the stock’s current price.

A number of other research firms have also recently commented on ENB. Royal Bank Of Canada upped their price objective on Enbridge from C$67.00 to C$72.00 in a research report on Monday, November 10th. BMO Capital Markets boosted their price target on Enbridge from C$67.00 to C$70.00 in a research note on Thursday, December 4th. Barclays increased their price objective on shares of Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Jefferies Financial Group raised their price objective on shares of Enbridge from C$72.00 to C$73.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, CIBC reduced their target price on shares of Enbridge from C$71.00 to C$69.00 in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$70.92.

Enbridge Stock Performance

Enbridge stock traded up C$0.30 during midday trading on Wednesday, reaching C$64.53. 1,369,827 shares of the company traded hands, compared to its average volume of 7,961,818. Enbridge has a 12 month low of C$56.51 and a 12 month high of C$70.39. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The business has a 50 day moving average of C$66.64 and a two-hundred day moving average of C$65.30. The firm has a market capitalization of C$140.87 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, November 7th. The company reported C$0.46 EPS for the quarter. The business had revenue of C$14.64 billion during the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. As a group, research analysts predict that Enbridge will post 3.511912 earnings per share for the current year.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.