Royal Bank of Canada Increases Enbridge (NYSE:ENB) Price Target to $67.00

Enbridge (NYSE:ENB) (TSE:ENB) had its target price upped by stock analysts at Royal Bank of Canada from $63.00 to $67.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 58.35% from the company’s current price.

Several other research analysts also recently issued reports on ENB. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two 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 a consensus target price of $67.00.

Enbridge Stock Down 1.0 %

Shares of NYSE:ENB opened at $42.31 on Tuesday. The company has a fifty day moving average of $43.35 and a 200-day moving average of $41.84. The company has a market capitalization of $92.20 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts predict that Enbridge will post 2.15 EPS for the current fiscal year.

Institutional Trading of Enbridge

A number of institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in Enbridge by 18.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 518,750 shares of the pipeline company’s stock valued at $22,009,000 after acquiring an additional 79,549 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Enbridge by 3.6% during the fourth quarter. Sunbelt Securities Inc. now owns 24,430 shares of the pipeline company’s stock valued at $1,029,000 after acquiring an additional 854 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in Enbridge during the fourth quarter valued at $119,000. Burgundy Asset Management Ltd. boosted its position in Enbridge by 3.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 171,960 shares of the pipeline company’s stock valued at $7,291,000 after acquiring an additional 6,101 shares during the last quarter. Finally, Vise Technologies Inc. boosted its position in Enbridge by 44.5% during the fourth quarter. Vise Technologies Inc. now owns 22,986 shares of the pipeline company’s stock valued at $975,000 after acquiring an additional 7,077 shares during the last quarter. Institutional investors own 54.60% 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.