Enbridge (TSE:ENB) Upgraded at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Enbridge from “market perform” to “outperform” and raised its price target to C$79.50 from C$79.00, implying 17.81% upside.
• Analyst sentiment is generally positive, with eight Buy ratings and five Holds, resulting in a consensus “Moderate Buy” rating and an average target price of C$77.62.
• Enbridge shares rose 0.7% to C$67.48, while the company reported quarterly EPS of C$0.63 and revenue of C$29.32 billion.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB was upgraded by analysts at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, BayStreet reports. The firm presently has a C$79.50 price target on the stock, up from their previous price target of C$79.00. BMO Capital Markets' target price indicates a potential upside of 17.81% from the company's current price.

A number of other research analysts have also issued reports on the stock. Raymond James Financial upped their price target on shares of Enbridge from C$79.00 to C$80.00 and gave the company a "market perform" rating in a research note on Tuesday. US Capital Advisors upgraded shares of Enbridge from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Jefferies Financial Group cut their target price on Enbridge from C$79.00 to C$70.00 in a research report on Tuesday, September 1st. TD raised their target price on Enbridge from C$79.00 to C$81.00 and gave the stock a "hold" rating in a research note on Thursday, June 25th. Finally, Scotiabank lifted their price target on Enbridge from C$78.00 to C$84.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and a consensus target price of C$77.62.

Enbridge Stock Up 0.7%

Shares of ENB stock traded up C$0.45 during trading hours on Tuesday, reaching C$67.48. 2,607,367 shares of the company's stock were exchanged, compared to its average volume of 8,622,322. Enbridge has a 1 year low of C$62.42 and a 1 year high of C$80.65. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. The stock has a market cap of C$147.38 billion, a PE ratio of 26.05, a PEG ratio of 1.72 and a beta of 0.69. The stock's fifty day moving average price is C$73.40 and its two-hundred day moving average price is C$74.74.

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

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.

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