Enbridge (TSE:ENB) Raised to “Hold” at The Goldman Sachs Group

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by The Goldman Sachs Group to a “hold” rating in a research report issued on Wednesday, Zacks reports.

Several other research firms have also issued reports on ENB. BMO Capital Markets raised Enbridge from a “hold” rating to an “outperform” rating and upped their price target for the company from C$79.00 to C$79.50 in a research report on Tuesday, September 15th. Jefferies Financial Group lowered their target price on shares of Enbridge from C$79.00 to C$70.00 in a research note on Tuesday, September 1st. Raymond James Financial increased their target price on shares of Enbridge from C$79.00 to C$80.00 and gave the stock a “market perform” rating in a report on Tuesday, September 15th. TD upgraded shares of Enbridge from a “hold” rating to a “buy” rating and reduced their price target for the stock from C$82.00 to C$81.00 in a research report on Tuesday, September 15th. Finally, TD Securities raised shares of Enbridge from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of C$77.62.

Enbridge Stock Down 0.6%

TSE:ENB opened at C$65.77 on Wednesday. The company has a market capitalization of C$143.65 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69. Enbridge has a one year low of C$62.42 and a one year high of C$80.65. The stock has a 50-day simple moving average of C$70.42 and a 200 day simple moving average of C$74.18. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72.

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

Insider Activity

In other news, Director Gregory Lorne Ebel acquired 7,105 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of C$66.85 per share, for a total transaction of C$474,969.25. Following the transaction, the director directly owned 589,721 shares in the company, valued at C$39,422,848.85. This trade represents a 1.22% increase in their position. Also, insider Michele Eva Harradence bought 7,105 shares of Enbridge stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of C$67.28 per share, with a total value of C$478,024.40. Following the completion of the purchase, the insider directly owned 87,467 shares in the company, valued at C$5,884,779.76. This trade represents a 8.84% increase in their ownership of the stock. 0.10% of the stock is currently owned by corporate insiders.

About Enbridge

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.