CIBC Trims Enbridge (TSE:ENB) Target Price to C$47.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target cut by CIBC from C$48.00 to C$47.00 in a research note released on Tuesday morning, BayStreet.CA reports.

Several other analysts have also issued reports on the company. Morgan Stanley dropped their target price on Enbridge from C$50.00 to C$40.00 in a report on Monday, March 16th. Citigroup cut their price target on Enbridge from C$55.00 to C$46.00 in a report on Wednesday, June 3rd. Wells Fargo & Co cut their price target on Enbridge from C$52.00 to C$51.00 in a report on Tuesday, April 14th. Tudor Pickering reaffirmed a buy rating and set a C$50.00 price target on shares of Enbridge in a report on Friday, June 26th. Finally, Jefferies Financial Group raised their price target on Enbridge from C$47.00 to C$49.00 in a report on Thursday, May 28th. Eleven investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average target price of C$53.68.

Shares of Enbridge stock opened at C$40.15 on Tuesday. The firm has a market cap of $81.41 billion and a price-to-earnings ratio of 40.97. The stock’s 50-day moving average is C$42.95 and its 200-day moving average is C$46.48. Enbridge has a one year low of C$33.06 and a one year high of C$57.32. The company has a debt-to-equity ratio of 96.63, a current ratio of 0.58 and a quick ratio of 0.45.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.83 EPS for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.11. The firm had revenue of C$12.01 billion during the quarter, compared to the consensus estimate of C$11.85 billion. On average, equities analysts expect that Enbridge will post 2.7233564 EPS for the current year.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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.

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Analyst Recommendations for Enbridge (TSE:ENB)

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