Enbridge (ENB) Price Target Lowered to C$59.00 at BMO Capital Markets

Enbridge (TSE:ENB) (NYSE:ENB) had its price target reduced by research analysts at BMO Capital Markets from C$61.00 to C$59.00 in a research report issued to clients and investors on Monday. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 38.99% from the stock’s previous close.

Several other research firms have also recently weighed in on ENB. CIBC cut their price objective on shares of Enbridge from C$60.00 to C$57.00 in a research report on Tuesday, May 22nd. Royal Bank of Canada cut their price objective on shares of Enbridge from C$59.00 to C$54.00 and set an “outperform” rating for the company in a research report on Friday, May 11th. GMP Securities set a C$56.00 price objective on shares of Enbridge in a research report on Friday, May 11th. Scotiabank cut their price objective on shares of Enbridge from C$57.00 to C$53.00 and set an “outperform” rating for the company in a research report on Tuesday, April 24th. Finally, Mizuho reaffirmed a “neutral” rating and set a C$45.00 price objective on shares of Enbridge in a research report on Thursday, March 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$54.30.

Shares of Enbridge traded up C$0.21, hitting C$42.45, on Monday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,275,199 shares, compared to its average volume of 3,507,726. Enbridge has a fifty-two week low of C$37.36 and a fifty-two week high of C$53.02.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Thursday, May 10th. The company reported C$1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.62 by C$0.42. Enbridge had a net margin of 11.00% and a return on equity of 6.04%. The business had revenue of C$16.09 billion for the quarter, compared to the consensus estimate of C$13.17 billion.

In related news, insider Bradley Francis Shamla sold 1,610 shares of the company’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of C$42.75, for a total transaction of C$68,827.50.

Enbridge Company Profile

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.

Analyst Recommendations for Enbridge (TSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply