Enbridge’s (ENB) “Buy” Rating Reaffirmed at UBS Group

UBS Group reaffirmed their buy rating on shares of Enbridge (TSE:ENB) (NYSE:ENB) in a research report sent to investors on Thursday, www.baystreet.ca reports. The firm currently has a C$50.00 price objective on the stock.

ENB has been the topic of several other research reports. GMP Securities upped their target price on Enbridge from C$55.00 to C$57.00 in a report on Thursday, July 5th. Citigroup upped their target price on Enbridge from C$44.00 to C$47.00 and gave the stock a neutral rating in a report on Monday, September 24th. BMO Capital Markets dropped their target price on Enbridge from C$61.00 to C$59.00 and set an outperform rating on the stock in a report on Monday, June 18th. Finally, Royal Bank of Canada upped their target price on Enbridge from C$54.00 to C$59.00 and gave the stock an outperform rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Enbridge currently has an average rating of Buy and a consensus target price of C$53.92.

ENB opened at C$43.65 on Thursday. Enbridge has a 52-week low of C$37.36 and a 52-week high of C$52.09.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, August 3rd. The company reported C$0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.55 by C$0.24. Enbridge had a return on equity of 6.04% and a net margin of 11.00%. The business had revenue of C$10.75 billion for the quarter, compared to analyst estimates of C$12.62 billion.

In other Enbridge news, insider Bradley Francis Shamla sold 2,895 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of C$47.05, for a total transaction of C$136,209.75.

About Enbridge

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