ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by equities research analysts at ATB Cormark Capital Markets from C$83.00 to C$84.00 in a research note issued on Tuesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective would suggest a potential upside of 24.48% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “hold” rating to an “outperformer” rating and lifted their target price for the stock from C$77.00 to C$78.00 in a research report on Friday, August 28th. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Scotiabank raised their price target on shares of Enbridge from C$78.00 to C$84.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 21st. Jefferies Financial Group reduced their price objective on shares of Enbridge from C$79.00 to C$70.00 in a research note on Tuesday, September 1st. Finally, TD increased their price objective on Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$77.62.

Enbridge Price Performance

Shares of TSE ENB traded up C$0.45 during mid-day trading on Tuesday, hitting C$67.48. 2,607,367 shares of the stock traded hands, compared to its average volume of 8,622,322. The company has a market cap of C$147.38 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69. Enbridge has a twelve month low of C$62.42 and a twelve month high of C$80.65. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. The firm has a 50 day simple moving average of C$73.40 and a two-hundred day simple moving average of C$74.74.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, July 31st. The company reported C$0.63 EPS for the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%.The firm had revenue of C$29.32 billion during the quarter. As a group, equities research analysts forecast that Enbridge will post 3.511912 EPS for the current fiscal year.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.