Enbridge (TSE:ENB) Upgraded at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Enbridge to “hold”, while analysts overall maintain a “Moderate Buy” consensus with an average price target of C$77.62.
• Enbridge shares opened at C$65.77, down 0.6%, and remain below their 50-day and 200-day moving averages of C$70.42 and C$74.18, respectively.
• Insiders recently bought shares, including director Gregory Lorne Ebel’s C$475,000 purchase and insider Michele Eva Harradence’s C$478,000 acquisition.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB was upgraded by equities researchers at The Goldman Sachs Group to a "hold" rating in a note issued to investors on Wednesday, Zacks reports.

A number of other research firms have also weighed in on ENB. Raymond James Financial boosted their target price on Enbridge from C$79.00 to C$80.00 and gave the stock a "market perform" rating in a report on Tuesday, September 15th. Jefferies Financial Group dropped their price target on shares of Enbridge from C$79.00 to C$70.00 in a research report on Tuesday, September 1st. BMO Capital Markets upgraded shares of Enbridge from a "hold" rating to an "outperform" rating and increased their price objective for the stock from C$79.00 to C$79.50 in a research note on Tuesday, September 15th. National Bank Financial upgraded Enbridge from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from C$81.00 to C$82.00 in a research report on Tuesday, September 15th. Finally, TD upgraded shares of Enbridge from a "hold" rating to a "buy" rating and dropped their price objective for the company from C$82.00 to C$81.00 in a report on Tuesday, September 15th. Two investment 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 stock. Based on data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and an average price target of C$77.62.

Enbridge Stock Down 0.6%

Shares of TSE ENB opened at C$65.77 on Wednesday. The firm has a 50 day moving average price of C$70.42 and a 200 day moving average price of C$74.18. The stock has a market cap 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 52-week low of C$62.42 and a 52-week high of C$80.65. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last posted 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 for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. Analysts expect that Enbridge will post 3.511912 EPS for the current year.

Insider Transactions at Enbridge

In other news, Director Gregory Lorne Ebel acquired 7,105 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average price of C$66.85 per share, for a total transaction of C$474,969.25. Following the completion of the purchase, the director owned 589,721 shares in the company, valued at approximately C$39,422,848.85. This trade represents a 1.22% increase in their ownership of the stock. Also, insider Michele Eva Harradence acquired 7,105 shares of the company's stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of C$67.28 per share, for a total transaction of C$478,024.40. Following the completion of the acquisition, 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 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.

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