Enbridge (ENB) Price Target Raised to C$55.00

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Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by Wells Fargo & Co from C$54.00 to C$55.00 in a report issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Wells Fargo & Co’s price objective points to a potential upside of 26.47% from the company’s previous close.

ENB has been the subject of several other reports. CIBC cut their price target on shares of Enbridge from C$57.00 to C$55.00 in a report on Wednesday, October 24th. Citigroup lifted their price target on shares of Enbridge from C$44.00 to C$47.00 and gave the company a “neutral” rating in a report on Monday, September 24th. UBS Group reissued a “buy” rating and set a C$50.00 price target on shares of Enbridge in a report on Thursday, October 4th. TD Securities lifted their price target on shares of Enbridge from C$54.00 to C$56.00 in a report on Monday. Finally, BMO Capital Markets cut their price target on shares of Enbridge from C$60.00 to C$59.00 in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of C$54.00.

ENB stock traded up C$1.11 during trading on Tuesday, hitting C$43.49. 2,798,952 shares of the stock traded hands, compared to its average volume of 3,359,244. Enbridge has a one year low of C$37.36 and a one year high of C$51.04.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, August 3rd. The company reported C$0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.55 by C$0.24. The firm had revenue of C$10.75 billion for the quarter, compared to the consensus estimate of C$12.62 billion.

In other Enbridge news, insider Bradley Francis Shamla sold 2,642 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of C$42.00, for a total value of C$110,964.00.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Analyst Recommendations for Enbridge (TSE:ENB)

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