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

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective boosted by investment analysts at Scotiabank from C$57.00 to C$61.00 in a research report issued on Wednesday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential downside of 0.38% from the stock’s current price.

ENB has been the topic of several other reports. Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. National Bankshares lifted their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Barclays lifted their price target on shares of Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Raymond James boosted their target price on shares of Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Finally, CIBC boosted their target price on shares of Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$59.15.

Enbridge Stock Up 0.1 %

Shares of TSE ENB traded up C$0.05 during mid-day trading on Wednesday, reaching C$61.23. The company had a trading volume of 1,101,808 shares, compared to its average volume of 8,463,175. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The firm has a 50 day simple moving average of C$57.63 and a two-hundred day simple moving average of C$53.35. The stock has a market cap of C$133.48 billion, a P/E ratio of 23.54, a PEG ratio of 1.72 and a beta of 0.90. Enbridge has a 52-week low of C$45.05 and a 52-week high of C$61.89.

Insider Activity at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of Enbridge 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. 0.10% of the stock is owned by company insiders.

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.