Enbridge (TSE:ENB) Raised to Buy at TD

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by equities researchers at TD from a “hold” rating to a “buy” rating in a report issued on Tuesday, BayStreet reports. The brokerage currently has a C$81.00 price target on the stock, down from their prior price target of C$82.00. TD’s price target indicates a potential upside of 20.04% from the stock’s previous close.

Several other equities analysts have also weighed in on ENB. Jefferies Financial Group dropped their price objective on shares of Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and boosted their target price for the company from C$77.00 to C$78.00 in a research report on Friday, August 28th. Scotiabank upped their price target on Enbridge from C$78.00 to C$84.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Finally, BMO Capital Markets raised Enbridge from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$79.00 to C$79.50 in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.62.

Enbridge Trading Up 0.7%

Shares of TSE:ENB traded up C$0.45 during mid-day trading on Tuesday, hitting C$67.48. The company had a trading volume of 2,607,367 shares, compared to its average volume of 8,622,322. The firm has a fifty day moving average price of C$73.40 and a 200 day moving average price of C$74.74. The company has a market capitalization of C$147.38 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. Enbridge has a one year low of C$62.42 and a one year high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, July 31st. The company reported C$0.63 earnings per share (EPS) for the quarter. The business had revenue of C$29.32 billion for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. As a group, research analysts forecast that Enbridge will post 3.511912 EPS for the current 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.