Enbridge (TSE:ENB – Get Rating) (NYSE:ENB) had its price target cut by analysts at Raymond James from C$60.00 to C$56.00 in a research note issued on Friday, BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 5.20% from the company’s previous close. Raymond James also issued estimates for Enbridge’s Q1 2024 earnings at $0.77 EPS, Q2 2024 earnings at $0.62 EPS and Q4 2024 earnings at $0.70 EPS.
Other research analysts also recently issued reports about the stock. CSFB raised shares of Enbridge from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 29th. Credit Suisse Group lowered Enbridge to a “sell” rating and set a C$53.00 target price on the stock. in a research note on Wednesday, February 8th. National Bankshares lifted their price target on Enbridge from C$54.00 to C$56.00 and gave the company a “sector perform” rating in a research report on Friday, January 27th. BMO Capital Markets lowered Enbridge from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$60.00 to C$55.00 in a report on Wednesday, January 25th. Finally, Barclays raised their target price on shares of Enbridge from C$53.00 to C$54.00 in a research note on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$57.92.
Enbridge Price Performance
ENB stock opened at C$53.23 on Friday. The firm has a 50 day moving average of C$52.12 and a 200-day moving average of C$53.11. The firm has a market capitalization of C$107.52 billion, a P/E ratio of 41.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.88. Enbridge has a 12 month low of C$48.88 and a 12 month high of C$59.69. The company has a current ratio of 0.60, a quick ratio of 0.44 and a debt-to-equity ratio of 129.03.
About Enbridge
Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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