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

The Goldman Sachs Group upgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) to a hold rating in a report published on Wednesday morning,Zacks reports.

A number of other equities analysts have also commented on ENB. National Bank Financial upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$81.00 to C$82.00 in a report on Tuesday, September 15th. Scotiabank raised Enbridge to a “strong-buy” rating in a research note on Thursday, September 17th. Canadian Imperial Bank of Commerce upgraded Enbridge from a “hold” rating to an “outperformer” rating and raised their price objective for the stock from C$77.00 to C$78.00 in a research report on Friday, August 28th. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, TD Securities upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$77.62.

Enbridge Stock Performance

Enbridge stock opened at C$65.77 on Wednesday. The business has a 50 day moving average of C$70.42 and a 200-day moving average of C$74.18. The company has a market capitalization of C$143.65 billion, a P/E ratio of 25.39, a P/E/G ratio of 1.72 and a beta of 0.69. Enbridge has a 1 year low of C$62.42 and a 1 year high of C$80.65. 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 (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, July 31st. The company reported C$0.63 EPS for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The business had revenue of C$29.32 billion for the quarter. On average, equities research analysts predict that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 5.9%. Enbridge’s dividend payout ratio (DPR) is presently 147.68%.

Insider Transactions at Enbridge

In related news, Director Gregory Lorne Ebel acquired 7,105 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was purchased at an average cost 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. This trade represents a 1.22% increase in their position. Also, insider Michele Eva Harradence acquired 7,105 shares of the stock in a transaction dated Monday, September 14th. The stock was bought 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 owned 87,467 shares of the company’s stock, valued at approximately C$5,884,779.76. The trade was a 8.84% increase in their ownership of the stock. 0.10% of the stock is currently owned by insiders.

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.