Enbridge Inc (TSE:ENB) Has Just Had Its Target Lowered by Research Analysts at BMO Capital Markets to $58.00

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Analysis: Enbridge Inc (TSE:ENB) Price Target Change Today

In an analyst note distributed by BMO Capital Markets on 18 December, the firm, Enbridge Inc (TSE:ENB), had their TP downgraded to $58.00. Analusts currently have a solid “Outperform” rating on the stock.

From a total of 13 analysts covering Enbridge Inc. (TSE:ENB) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $50.15 while the lowest target price is $37.26. The mean of all analyst targets is $44.69 with a 47.56% above today’s ($43.78) stock price. Enbridge Inc. was the topic of 7 analyst reports since September 11, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on December 15 with “Overweight” rating.

The stock decreased 0.27% or $0.12 on December 18, striking $43.78. Approximately 6.44 million shares of stock traded hands or 377.04% up from the average. Enbridge Inc (TSE:ENB) has declined 29.20% since May 18, 2015 and is downtrending. It has underperformed by 25.40% the S&P500.

Enbridge Inc (TSE:ENB) Has Just Had Its Target Lowered by Research Analysts at BMO Capital Markets to $58.00

Enbridge Inc. is an energy transportation and distribution company. The company has a market cap of $37.91 billion. The Firm operates in five divisions: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. It currently has negative earnings. Liquids Pipelines segment owns and operates crude oil and other liquid hydrocarbons pipelines and terminals.

According to Zacks Investment Research, “Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North America and internationally. As a transporter of energy, Enbridge operates, in Canada and the United States, the world’s longest crude oil and liquids pipeline system. The Company also has international operations and a growing involvement in the natural gas transmission and midstream businesses. As a distributor of energy, Enbridge owns and operates Canada’s largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State.”

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