Enbridge (TSE:ENB) Price Target Cut to C$70.00 by Analysts at Jefferies Financial Group

Key Points

• Jefferies cut Enbridge’s price target from C$79.00 to C$70.00, implying just 0.26% upside from the stock’s recent C$69.82 price.
• Analyst sentiment is mixed but leans cautious: Enbridge has a consensus “Hold” rating and an average target price of C$76.25, based on five Buy and seven Hold ratings.
• Enbridge reported quarterly revenue of C$29.32 billion and earnings of C$0.63 per share; the stock has traded between C$62.42 and C$80.65 over the past year.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB had its target price lowered by investment analysts at Jefferies Financial Group from C$79.00 to C$70.00 in a note issued to investors on Tuesday, BayStreet reports. Jefferies Financial Group's price target suggests a potential upside of 0.26% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial cut shares of Enbridge from a "moderate buy" rating to a "hold" rating in a research report on Friday, July 31st. Royal Bank Of Canada increased their price target on shares of Enbridge from C$76.00 to C$79.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a "hold" rating to an "outperformer" rating and boosted their price objective for the stock from C$77.00 to C$78.00 in a research report on Friday. US Capital Advisors raised Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Finally, National Bank Financial increased their price objective on Enbridge from C$73.00 to C$81.00 and gave the company a "sector perform" rating in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Enbridge currently has a consensus rating of "Hold" and a consensus target price of C$76.25.

Enbridge Price Performance

ENB traded down C$0.40 during trading on Tuesday, hitting C$69.82. The company's stock had a trading volume of 1,597,356 shares, compared to its average volume of 8,444,744. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 171.59. The stock has a market capitalization of C$152.49 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The firm's 50 day moving average price is C$75.23 and its two-hundred day moving average price is C$74.91. Enbridge has a 12 month low of C$62.42 and a 12 month high of C$80.65.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last announced its earnings results on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%.The company had revenue of C$29.32 billion during the quarter. Sell-side analysts forecast that Enbridge will post 3.511912 earnings per share for the current fiscal year.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.

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