Raymond James Financial Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Key Points

• Raymond James raised its Enbridge price target from C$79.00 to C$80.00 while maintaining a “market perform” rating, implying 18.55% potential upside from the cited share price.
• Analyst sentiment is generally positive: eight analysts rate Enbridge a Buy and five rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of C$77.62.
• Enbridge shares traded at C$67.48, below their 50-day and 200-day moving averages, while the company reported C$0.63 in quarterly EPS and C$29.32 billion in revenue.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB had its price target hoisted by analysts at Raymond James Financial from C$79.00 to C$80.00 in a report issued on Tuesday, BayStreet reports. The firm currently has a "market perform" rating on the stock. Raymond James Financial's price target suggests a potential upside of 18.55% from the company's current price.

Several other research firms also recently weighed in on ENB. Scotiabank raised their price objective on Enbridge from C$78.00 to C$84.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 21st. Jefferies Financial Group lowered their target price on Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. US Capital Advisors upgraded Enbridge from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 20th. National Bank Financial set a C$81.00 price target on Enbridge and gave the stock an "outperform" rating in a research note on Wednesday, September 9th. Finally, TD boosted their price objective on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a "hold" rating in a research report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$77.62.

Enbridge Stock Performance

Shares of Enbridge stock traded up C$0.45 during trading hours on Tuesday, hitting C$67.48. 2,607,367 shares of the company were exchanged, compared to its average volume of 8,622,322. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. The business has a 50-day moving average of C$73.40 and a 200-day moving average of C$74.74. Enbridge has a 1 year low of C$62.42 and a 1 year high of C$80.65. The stock has a market capitalization of C$147.38 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.72 and a beta of 0.69.

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

Enbridge Company Profile

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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