Enbridge (TSE:ENB) Rating Lowered to Neutral at JPMorgan Chase & Co.

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$69.00 price target on the stock, down from their previous price target of C$74.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.86% from the stock’s previous close.

Several other equities analysts also recently commented on the company. ATB Capital set a C$72.00 target price on Enbridge and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Jefferies Financial Group cut their price objective on Enbridge from C$73.00 to C$71.00 in a report on Tuesday, December 23rd. Raymond James Financial upped their target price on shares of Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. Royal Bank Of Canada increased their target price on shares of Enbridge from C$67.00 to C$72.00 in a research report on Monday, November 10th. Finally, Barclays boosted their price target on shares of Enbridge from C$65.00 to C$68.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$71.31.

Enbridge Price Performance

Shares of Enbridge stock opened at C$65.80 on Tuesday. Enbridge has a twelve month low of C$56.51 and a twelve month high of C$70.39. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The firm has a market cap of C$143.64 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The firm’s 50-day simple moving average is C$65.56 and its 200-day simple moving average is C$65.88.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.46 EPS for the quarter. The firm had revenue of C$14.64 billion during the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. As a group, research analysts expect that Enbridge will post 3.511912 EPS for the current fiscal year.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.