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

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by research analysts at Scotiabank from C$61.00 to C$65.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 0.45% from the company’s previous close.

A number of other brokerages have also recently weighed in on ENB. TD Securities set a C$66.00 price target on Enbridge and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised their price objective on shares of Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. Barclays boosted their target price on shares of Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. Morgan Stanley set a C$64.00 price target on Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, CIBC upped their price target on shares of Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$62.54.

Enbridge Price Performance

TSE:ENB traded up C$0.26 during trading hours on Thursday, reaching C$64.71. 1,256,986 shares of the company’s stock were exchanged, compared to its average volume of 8,868,919. Enbridge has a 12 month low of C$45.05 and a 12 month high of C$65.62. The business’s 50-day simple moving average is C$62.10 and its two-hundred day simple moving average is C$57.95. The company has a market capitalization of C$140.24 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. Insiders own 0.10% of the company’s stock.

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.