Enbridge Price Target Lowered to $52.00 at Scotiabank (ENB)
Investment analysts at Scotiabank lowered their target price on shares of Enbridge (NYSE:ENB) from $54.00 to $52.00 in a note issued to investors on Wednesday, Analyst Ratings Network reports. Scotiabank’s target price suggests a potential upside of 26.34% from the company’s current price.
A number of other analysts have also recently weighed in on ENB. Analysts at ISI Group initiated coverage on shares of Enbridge (NYSE:ENB) in a research note to investors on Monday, July 29th. They set a “buy” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Enbridge (NYSE:ENB) in a research note to investors on Tuesday, June 18th. Finally, analysts at CIBC reiterated a “sector perform” rating on shares of Enbridge (NYSE:ENB) in a research note to investors on Thursday, June 13th.
Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.33.
Shares of Enbridge (NYSE:ENB) traded down 1.39% on Wednesday, hitting $41.16. The stock had a trading volume of 783,436 shares. Enbridge has a 52 week low of $37.67 and a 52 week high of $48.41. The stock’s 50-day moving average is $42.55 and its 200-day moving average is $44.28. The company has a market cap of $33.986 billion and a P/E ratio of 51.98.
Enbridge (NYSE:ENB) last announced its earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.01. Analysts expect that Enbridge will post $1.78 EPS for the current fiscal year.
Enbridge Inc is an energy delivery company that operates in Canada and the United States. It has four segments: Liquids Pipelines, which includes the operation and construction of the Enbridge crude oil mainline system and feeder pipelines that transport crude oil and other liquid hydrocarbons; Natural Gas Delivery and Services, which consists of natural gas utility operations investments in natural gas pipelines; Sponsored Investments, which includes the Company’s 27% ownership interest in Enbridge Energy Partners, L.
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