Enbridge (TSE:ENB) Upgraded at TD Securities

Key Points

• TD Securities upgraded Enbridge to “strong buy” from “hold,” while other firms also raised ratings or price targets. The stock has a consensus “Moderate Buy” rating and a C$77.62 consensus price target.
• Enbridge shares opened at C$67.40, up 0.6%, below their 12-month high of C$80.65. The company reported quarterly EPS of C$0.63 on C$29.32 billion in revenue.
• Investors should weigh potential growth and financial flexibility against risks including a planned C$2.6 billion share offering, which may dilute existing holders, and renewed opposition to the Great Lakes Tunnel project.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB was upgraded by stock analysts at TD Securities from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday, Zacks reports.

Several other research firms have also issued reports on ENB. US Capital Advisors upgraded Enbridge from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 20th. BMO Capital Markets upgraded shares of Enbridge from a "market perform" rating to an "outperform" rating and increased their price target for the company from C$79.00 to C$79.50 in a research report on Tuesday. ATB Cormark Capital Markets increased their price target on shares of Enbridge from C$83.00 to C$84.00 and gave the company an "outperform" rating in a research report on Tuesday. Jefferies Financial Group reduced their price objective on shares of Enbridge from C$79.00 to C$70.00 in a research note on Tuesday, September 1st. Finally, Scotiabank boosted their price objective on shares of Enbridge from C$78.00 to C$84.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus price target of C$77.62.

Enbridge Stock Up 0.6%

TSE:ENB opened at C$67.40 on Monday. Enbridge has a 12-month low of C$62.42 and a 12-month high of C$80.65. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 171.59. The firm has a market capitalization of C$147.21 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.72 and a beta of 0.69. The stock's fifty day simple moving average is C$73.18 and its 200-day simple moving average is C$74.71.

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

Trending Headlines about Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Multiple analyst upgrades: BMO Capital Markets, National Bank Financial and TD each upgraded Enbridge to “outperform” or “buy.” Their price targets range from C$79.50 to C$82.00. ATB Cormark also raised its target to C$84.00, while Raymond James lifted its target to C$80.00, although it retained a “market perform” rating. The revisions suggest analysts see attractive valuation and potential for improved performance. Enbridge analyst upgrades
• Positive Sentiment: Capital for corporate needs: Enbridge priced a C$2.6 billion bought-deal common share offering led by RBC and CIBC. Although the issuance is dilutive, the proceeds could strengthen financial flexibility and support growth projects or balance-sheet management. Enbridge prices C$2.6 billion bought-deal offering
• Neutral Sentiment: Fire and graffiti at Wisconsin facility: Police are investigating a fire and graffiti at an Enbridge Energy building in Superior, Wisconsin. The reports did not indicate a material pipeline outage, operational disruption or significant financial damage, limiting the immediate stock impact, though the incident raises security and reputational concerns. Superior Wisconsin police investigate fire at Enbridge Energy
• Negative Sentiment: Renewed opposition to Great Lakes Tunnel: Enbridge’s proposed Michigan tunnel project faces renewed opposition, creating additional regulatory, legal and potential timeline risks for a project intended to protect the Line 5 pipeline crossing. Delays or higher costs could weigh on the project’s expected returns. Enbridge Great Lakes Tunnel project faces renewed opposition
• Negative Sentiment: Share issuance creates dilution: The C$2.6 billion common-share offering increases the number of shares outstanding, potentially reducing existing shareholders’ ownership percentage and per-share earnings in the near term. Investors will focus on whether the capital raised generates sufficient growth to offset that dilution.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.