CIBC Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its price target hoisted by equities research analysts at CIBC from C$66.00 to C$67.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 12.57% from the company’s previous close.

ENB has been the topic of a number of other reports. Wells Fargo & Company lifted their target price on shares of Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. Royal Bank of Canada lifted their target price on shares of Enbridge from C$63.00 to C$67.00 in a report on Tuesday, February 18th. Jefferies Financial Group lifted their target price on shares of Enbridge from C$59.00 to C$65.00 in a report on Thursday, January 30th. TD Securities lifted their target price on shares of Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their target price on shares of Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$63.31.

Enbridge Stock Down 2.4 %

ENB stock opened at C$59.52 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. Enbridge has a twelve month low of C$45.39 and a twelve month high of C$65.62. The company’s 50 day moving average is C$62.35 and its two-hundred day moving average is C$58.90. The stock has a market cap of C$128.99 billion, a P/E ratio of 19.35, a PEG ratio of 1.72 and a beta of 0.90.

Insider Transactions at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Corporate 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.