Enbridge (TSE:ENB) Given New C$63.00 Price Target at Royal Bank of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by equities research analysts at Royal Bank of Canada from C$59.00 to C$63.00 in a report released on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 2.89% from the company’s previous close.

Several other brokerages have also recently weighed in on ENB. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their price target for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. BMO Capital Markets raised their price target on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Barclays raised their price target on shares of Enbridge from C$54.00 to C$59.00 in a research note on Monday, November 11th. Finally, National Bankshares increased their price objective on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average price target of C$59.15.

Enbridge Stock Up 0.1 %

TSE ENB traded up C$0.05 during trading hours on Wednesday, reaching C$61.23. 1,101,808 shares of the company’s stock were exchanged, compared to its average volume of 8,463,175. The company’s 50-day moving average is C$57.63 and its two-hundred day moving average is C$53.35. Enbridge has a one year low of C$45.05 and a one year high of C$61.89. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The company has a market capitalization of C$133.48 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Insider Buying and Selling

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by company insiders.

Enbridge Company Profile

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.