Enbridge (TSE:ENB) Stock Rating Upgraded by Scotiabank

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

ENB has been the topic of several other research reports. ATB Cormark Capital Markets boosted their target price on Enbridge from C$83.00 to C$84.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Securities raised shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Raymond James Financial lifted their price objective on shares of Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a report on Tuesday. BMO Capital Markets raised shares of Enbridge from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$79.00 to C$79.50 in a research report on Tuesday. Finally, TD raised shares of Enbridge from a “hold” rating to a “buy” rating and cut their price objective for the stock from C$82.00 to C$81.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$77.62.

Enbridge Price Performance

ENB stock opened at C$68.14 on Thursday. The stock has a 50-day moving average price of C$72.61 and a two-hundred day moving average price of C$74.61. The stock has a market cap of C$148.83 billion, a PE ratio of 26.31, a price-to-earnings-growth 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 has a 1 year low of C$62.42 and a 1 year high of C$80.65.

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

Insider Buying and Selling at Enbridge

In related news, Director Gregory Lorne Ebel purchased 7,105 shares of the stock in a transaction on Monday, September 14th. The shares were purchased at an average price of C$66.85 per share, with a total value of C$474,969.25. Following the transaction, the director directly owned 589,721 shares of the company’s stock, valued at C$39,422,848.85. This trade represents a 1.22% increase in their ownership of the stock. 0.10% of the stock is owned by company 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.