Enbridge (TSE:ENB) Upgraded by Scotiabank to Strong-Buy Rating

Scotiabank upgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) to a strong-buy rating in a research report released on Thursday morning,Zacks reports.

ENB has been the topic of several other research reports. National Bank Financial raised Enbridge from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$81.00 to C$82.00 in a report on Tuesday. 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 note on Tuesday. BMO Capital Markets upgraded Enbridge from a “hold” rating to an “outperform” rating and boosted their target price for the stock from C$79.00 to C$79.50 in a research report on Tuesday. ATB Cormark Capital Markets upped their price target on Enbridge from C$83.00 to C$84.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, TD Securities raised Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average target price of C$77.62.

Enbridge Trading Down 0.1%

Shares of TSE ENB opened at C$68.14 on Thursday. Enbridge has a 1-year low of C$62.42 and a 1-year high of C$80.65. The company has a 50-day moving average of C$72.61 and a two-hundred day moving average of C$74.61. The company has a market cap of C$148.83 billion, a PE ratio of 26.31, a P/E/G ratio of 1.72 and a beta of 0.69. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, July 31st. The company reported C$0.63 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, equities analysts expect that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio is currently 147.68%.

Insider Transactions at Enbridge

In other Enbridge news, Director Gregory Lorne Ebel bought 7,105 shares of the stock in a transaction on Monday, September 14th. The stock was purchased at an average price of C$66.85 per share, with a total value of C$474,969.25. Following the acquisition, the director owned 589,721 shares of the company’s stock, valued at approximately C$39,422,848.85. The trade was a 1.22% increase in their ownership of the stock. Insiders own 0.10% of the company’s stock.

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.