Enbridge Inc. (TSE:ENB) Receives C$76.25 Consensus Target Price from Analysts

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$77.62.

Several research analysts recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. ATB Cormark Capital Markets boosted their price target on shares of Enbridge from C$83.00 to C$84.00 and gave the stock an “outperform” rating in a research report on Tuesday. Canadian Imperial Bank of Commerce upgraded Enbridge from a “hold” rating to an “outperformer” rating and raised their price objective for the company from C$77.00 to C$78.00 in a report on Friday, August 28th. Raymond James Financial lifted their target price on Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$81.00 to C$82.00 in a report on Tuesday.

Enbridge News Roundup

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Analyst upgrades: TD Securities upgraded Enbridge from “hold” to “strong buy,” while BMO Capital Markets moved from “hold” to “outperform.” National Bank Financial also upgraded the stock from “sector perform” to “outperform,” and TD separately raised its rating to “buy.”
• Positive Sentiment: Higher valuation targets: BMO set a C$79.50 target, National Bank Financial set C$82, ATB Cormark raised its target to C$84 from C$83, and Raymond James increased its target to C$80 from C$79. These targets indicate analysts see meaningful potential upside from recent trading levels.
• Positive Sentiment: CIBC remains bullish: CIBC reiterated its “buy” recommendation, reinforcing the view that Enbridge’s regulated utility and energy infrastructure businesses offer attractive long-term value. CIBC Remains a Buy on Enbridge
• Neutral Sentiment: Mixed analyst conviction: Raymond James retained a “market perform” rating despite raising its price target, suggesting some investors may view the shares as fairly valued relative to near-term fundamentals.
• Negative Sentiment: Great Lakes Tunnel opposition: The proposed Enbridge Great Lakes Tunnel project is facing renewed opposition in Michigan. Additional regulatory, political or permitting challenges could delay the project, increase costs or reduce its expected strategic benefits. Enbridge Great Lakes Tunnel Project Faces Renewed Opposition in Michigan
• Negative Sentiment: Wisconsin property incident: An Enbridge Energy building in northern Wisconsin was reportedly damaged by fire and graffiti. The immediate financial impact is unclear, but the incident could create temporary repair, security or reputational costs. Enbridge Energy building in northern Wisconsin hit by fire, graffiti

Enbridge Stock Up 0.4%

TSE:ENB opened at C$67.70 on Monday. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72. The company has a market cap of C$147.86 billion, a PE ratio of 26.14, a PEG ratio of 1.72 and a beta of 0.69. Enbridge has a 52-week low of C$62.42 and a 52-week high of C$80.65. The stock has a 50-day simple moving average of C$72.98 and a 200 day simple moving average of C$74.69.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, July 31st. The company reported C$0.63 EPS for the quarter. The firm had revenue of C$29.32 billion for the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%. On average, sell-side analysts expect that Enbridge will post 3.511912 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 5.7%. Enbridge’s payout ratio is 147.68%.

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.