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

Key Points

• Barclays raised its price target for Enbridge (TSE:ENB) stock from C$65.00 to C$68.00 while maintaining an "equal weight" rating, indicating a potential downside of 2.14% from the current price.
• Other firms have also increased their price targets, with ATB Capital and National Bankshares projecting C$67.00 and C$65.00 respectively, reflecting a generally positive sentiment towards Enbridge’s performance.
• Enbridge's stock recently traded at C$69.49, with the company holding a market cap of C$151.52 billion and a price-to-earnings ratio of 24.47.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB had its price objective increased by analysts at Barclays from C$65.00 to C$68.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price points to a potential downside of 2.14% from the stock's current price.

A number of other research firms have also weighed in on ENB. ATB Capital upped their price objective on shares of Enbridge from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. National Bankshares boosted their price target on Enbridge from C$64.00 to C$65.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 5th. Argus upgraded shares of Enbridge to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating and raised their price target for the company from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$67.33.

Enbridge Trading Down 0.6%

ENB traded down C$0.39 on Monday, reaching C$69.49. 1,047,484 shares of the company traded hands, compared to its average volume of 8,057,680. The company has a market cap of C$151.52 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. Enbridge has a one year low of C$55.16 and a one year high of C$70.39. The firm has a fifty day simple moving average of C$66.44 and a two-hundred day simple moving average of C$63.84.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company.

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