Enbridge (NYSE:ENB) Upgraded to “Strong-Buy” at Scotiabank

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by equities researchers at Scotiabank to a “strong-buy” rating in a report issued on Thursday, Zacks reports.

ENB has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, August 27th. Raymond James Financial reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday. TD Securities assumed coverage on shares of Enbridge in a report on Monday. They set a “buy” rating on the stock. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Finally, Wolfe Research set a $50.00 target price on Enbridge in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.17.

Enbridge Price Performance

Shares of NYSE ENB opened at $48.68 on Thursday. Enbridge has a fifty-two week low of $45.03 and a fifty-two week high of $58.45. The company has a market cap of $108.50 billion, a PE ratio of 26.03, a P/E/G ratio of 5.75 and a beta of 0.57. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The business has a 50-day simple moving average of $52.03 and a two-hundred day simple moving average of $53.73.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the prior year, the company posted $0.65 earnings per share. As a group, equities analysts expect that Enbridge will post 2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arlington Trust Co LLC boosted its stake in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 267 shares in the last quarter. City Holding Co. increased its stake in shares of Enbridge by 121.5% in the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock valued at $35,000 after purchasing an additional 356 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its holdings in Enbridge by 99.7% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 345 shares during the period. Financial Freedom LLC raised its holdings in Enbridge by 187.1% in the 1st quarter. Financial Freedom LLC now owns 755 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 492 shares during the period. Finally, Nalls Sherbakoff Group LLC purchased a new position in Enbridge during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America’s largest energy delivery businesses, operating primarily in Canada and the United States.

Enbridge’s operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.