Enbridge (TSE:ENB) (NYSE:ENB) had its price objective reduced by Royal Bank of Canada from C$63.00 to C$59.00 in a report released on Wednesday. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 19.60% from the stock’s previous close.
ENB has been the topic of a number of other reports. Canaccord Genuity reduced their price objective on shares of Enbridge from C$59.00 to C$54.00 in a research report on Thursday, November 30th. National Bank Financial reduced their target price on shares of Enbridge from C$67.00 to C$63.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. CIBC reduced their target price on shares of Enbridge from C$69.00 to C$67.00 in a research report on Friday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$66.00 target price on shares of Enbridge in a research report on Wednesday. Finally, Scotiabank reduced their target price on shares of Enbridge from C$61.00 to C$60.00 and set an “outperform” rating on the stock in a research report on Thursday, November 30th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Enbridge currently has an average rating of “Buy” and a consensus price target of C$60.58.
Shares of Enbridge (TSE ENB) traded down C$0.24 during trading on Wednesday, reaching C$49.33. 3,606,702 shares of the company’s stock were exchanged, compared to its average volume of 2,989,445. Enbridge has a fifty-two week low of C$43.91 and a fifty-two week high of C$58.28.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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