Jefferies Financial Group Lowers Enbridge (TSE:ENB) Price Target to C$71.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective reduced by Jefferies Financial Group from C$73.00 to C$71.00 in a report released on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s price target suggests a potential upside of 9.43% from the company’s current price.

Several other analysts have also commented on the company. National Bankshares raised their target price on Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. CIBC dropped their price objective on shares of Enbridge from C$71.00 to C$69.00 in a research note on Wednesday, December 17th. Barclays lifted their price target on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Raymond James Financial increased their price target on Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. Finally, Scotiabank upped their price target on Enbridge from C$65.00 to C$69.00 and gave the stock a “sector perform” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$71.17.

Enbridge Trading Down 0.2%

TSE ENB opened at C$64.88 on Tuesday. Enbridge has a 12-month low of C$56.51 and a 12-month high of C$70.39. The company has a fifty day simple moving average of C$66.34 and a two-hundred day simple moving average of C$65.31. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The stock has a market cap of C$141.63 billion, a P/E ratio of 25.44, a P/E/G ratio of 1.72 and a beta of 0.91.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, November 7th. The company reported C$0.46 earnings per share (EPS) for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%.The firm had revenue of C$14.64 billion for the quarter. On average, analysts forecast that Enbridge will post 3.511912 earnings per share for the current year.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.