Enbridge (TSE:ENB) Rating Increased to Outperformer at Canadian Imperial Bank of Commerce

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperformer” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a C$78.00 price objective on the stock, up from their prior price objective of C$77.00. Canadian Imperial Bank of Commerce’s price target points to a potential upside of 11.89% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Scotiabank upped their price target on shares of Enbridge from C$78.00 to C$84.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial downgraded shares of Enbridge from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 31st. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Finally, TD raised their target price on Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research report on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$76.75.

Enbridge Trading Up 0.6%

TSE ENB traded up C$0.43 on Friday, hitting C$69.71. 1,745,386 shares of the company were exchanged, compared to its average volume of 8,438,926. The company’s 50 day moving average price is C$75.54 and its 200-day moving average price is C$74.90. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. The firm has a market capitalization of C$152.25 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. Enbridge has a twelve month low of C$62.42 and a twelve month high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, July 31st. The company reported C$0.63 EPS for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The company had revenue of C$29.32 billion during the quarter. Analysts predict that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.