GMP Securities Cuts Enbridge (TSE:ENB) Price Target to C$59.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective cut by equities research analysts at GMP Securities from C$60.00 to C$59.00 in a report released on Tuesday, BayStreet.CA reports. GMP Securities’ target price points to a potential upside of 36.04% from the stock’s previous close.

Separately, Wells Fargo & Co cut their target price on shares of Enbridge from C$53.00 to C$51.00 in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Enbridge presently has an average rating of “Buy” and a consensus target price of C$54.82.

Shares of ENB stock traded down C$0.88 on Tuesday, reaching C$43.37. 2,729,390 shares of the company were exchanged, compared to its average volume of 4,930,701. The company has a market cap of $88.94 billion and a P/E ratio of 17.69. The firm has a 50-day moving average of C$46.36. The company has a debt-to-equity ratio of 92.29, a quick ratio of 0.51 and a current ratio of 0.63. Enbridge has a 1 year low of C$39.40 and a 1 year high of C$51.22.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, May 10th. The company reported C$0.81 EPS for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.12. The company had revenue of C$12.86 billion for the quarter. Analysts anticipate that Enbridge will post 2.7199999 EPS for the current year.

In other Enbridge news, Director Albert Monaco acquired 7,848 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of C$49.81 per share, with a total value of C$390,908.88. Following the purchase, the director now owns 824,530 shares in the company, valued at C$41,069,839.30.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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