CIBC Believes Enbridge (ENB) Still Has Room to Grow
CIBC analyst Robert Catellier reiterated a Buy rating on Enbridge (ENB) today and set a price target of C$52.00. The company’s shares closed last Friday at $39.41, close to its 52-week high of $40.10.
Catellier has an average return of 13.6% when recommending Enbridge.
According to TipRanks.com, Catellier is ranked #943 out of 7492 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enbridge with a $44.94 average price target.
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Based on Enbridge’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $10.01 billion and net profit of $1.87 billion. In comparison, last year the company earned revenue of $12.35 billion and had a net profit of $842 million.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENB in relation to earlier this year.
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Enbridge, Inc. is a Canadian energy infrastructure company that transports crude and other liquid hydrocarbons. The pipeline giant is also engaged in renewable power generation, gas distribution and storage as well as energy marketing services.