Scotiabank Boosts Enbridge (TSE:ENB) Price Target to C$69.00

Key Points

• Scotiabank has increased its price target for Enbridge from C$65.00 to C$69.00, indicating a potential upside of 3.90% from the current price.
• In addition to Scotiabank, other analysts have also revised their price targets, with Barclays setting it at C$68.00 and CIBC at C$70.00, reflecting a diversified outlook on the stock.
• Enbridge's stock is currently trading at C$66.41, with a one-year range between C$55.53 and C$70.39, highlighting its recent performance in the market.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB had its price target raised by equities researchers at Scotiabank from C$65.00 to C$69.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 3.90% from the stock's current price.

A number of other research analysts also recently commented on ENB. Barclays raised their target price on shares of Enbridge from C$65.00 to C$68.00 and gave the company an "equal weight" rating in a research report on Monday, October 6th. CIBC downgraded shares of Enbridge from an "outperform" rating to a "neutral" rating and raised their target price for the company from C$68.00 to C$70.00 in a research report on Thursday, October 9th. Cibc World Mkts downgraded shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating and lifted their price objective for the stock from C$65.00 to C$72.00 in a research report on Wednesday, July 23rd. Finally, National Bankshares lifted their price objective on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$67.80.

Enbridge Trading Up 0.7%

ENB traded up C$0.43 on Monday, reaching C$66.41. 856,599 shares of the company traded hands, compared to its average volume of 7,895,955. Enbridge has a one year low of C$55.53 and a one year high of C$70.39. The firm has a fifty day simple moving average of C$67.22 and a two-hundred day simple moving average of C$64.10. The company has a market cap of C$144.81 billion, a P/E ratio of 23.38, 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.