Enbridge (TSE:ENB) Upgraded to Buy at TD

Key Points

• TD upgraded Enbridge from “hold” to “buy,” while lowering its price target slightly from C$82 to C$81. The target implies approximately 20% upside from the previous close.
• Analyst sentiment is broadly positive: eight analysts rate Enbridge a Buy and five rate it a Hold, resulting in a consensus “Moderate Buy” rating and an average price target of C$77.62.
• Enbridge shares rose 0.7% to C$67.48, though they remained below their 50-day and 200-day moving averages. 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 research analysts at TD from a "hold" rating to a "buy" rating in a report released on Tuesday, BayStreet reports. The firm currently has a C$81.00 price target on the stock, down from their previous price target of C$82.00. TD's price target suggests a potential upside of 20.04% from the stock's previous close.

Several other brokerages also recently commented on ENB. US Capital Advisors raised Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. National Bank Financial raised Enbridge from a "sector perform" rating to an "outperform" rating and increased their price target for the company from C$81.00 to C$82.00 in a research note on Tuesday. BMO Capital Markets upgraded Enbridge from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from C$79.00 to C$79.50 in a research report on Tuesday. Scotiabank lifted their price objective on Enbridge from C$78.00 to C$84.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group reduced their target price on Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$77.62.

Enbridge Trading Up 0.7%

Shares of ENB stock traded up C$0.45 during trading hours on Tuesday, hitting C$67.48. 2,607,367 shares of the company's stock traded hands, compared to its average volume of 8,622,322. The stock has a market cap of C$147.38 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69. The stock's 50 day simple moving average is C$73.40 and its 200 day simple moving average is C$74.74. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 171.59. Enbridge has a 12 month low of C$62.42 and a 12 month high of C$80.65.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last issued its quarterly earnings data on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. The company 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%. On average, sell-side analysts anticipate that Enbridge will post 3.511912 EPS for the current year.

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.

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