Raymond James Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its target price hoisted by equities research analysts at Raymond James from C$59.00 to C$63.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Raymond James’ target price would suggest a potential upside of 5.47% from the company’s current price.

Other analysts have also issued reports about the company. BMO Capital Markets boosted their price target on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Royal Bank of Canada boosted their price target on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. CIBC lifted their target price on Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Wells Fargo & Company raised Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$58.31.

Enbridge Stock Down 0.5 %

Shares of Enbridge stock traded down C$0.28 during trading on Tuesday, reaching C$59.73. The stock had a trading volume of 1,211,864 shares, compared to its average volume of 8,516,736. The company has a market capitalization of C$130.21 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 1.72 and a beta of 0.90. The stock has a fifty day moving average price of C$57.00 and a two-hundred day moving average price of C$52.96. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$61.09. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26.

Insiders Place Their Bets

In other news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Company insiders own 0.10% of the company’s stock.

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.