National Bank Financial Upgrades Enbridge (NYSE:ENB) to "Strong-Buy"

Key Points

• National Bank Financial upgraded Enbridge to “strong buy” from “hold.” Across analysts, the stock has a consensus “moderate buy” rating and a $67.00 target price.
• Enbridge reported quarterly EPS of $0.46, beating estimates of $0.43, while revenue reached $9.70 billion versus the $8.67 billion consensus estimate. Institutional investors own approximately 54.6% of the company.
• The company’s planned $2.55 billion acquisition of Tallgrass Energy’s crude transportation business would expand its U.S. pipeline footprint, but a related CA$2.6 billion share offering could dilute shareholders; regulatory uncertainty surrounding Line 5 remains another risk.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB was upgraded by analysts at National Bank Financial from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday, Zacks reports.

ENB has been the subject of a number of other research reports. Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a research report on Wednesday, August 19th. Canadian Imperial Bank of Commerce upgraded Enbridge from a "neutral" rating to a "sector outperform" rating in a research note on Thursday, August 27th. Scotiabank reaffirmed an "outperform" rating on shares of Enbridge in a report on Tuesday, July 21st. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, August 3rd. Finally, US Capital Advisors raised Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $50.15 on Wednesday. Enbridge has a one year low of $45.03 and a one year high of $58.45. The stock has a market capitalization of $109.52 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 5.99 and a beta of 0.57. The company has a 50-day simple moving average of $52.88 and a 200-day simple moving average of $53.94. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period last year, the company earned $0.65 earnings per share. On average, analysts predict that Enbridge will post 2.11 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Several hedge funds and other institutional investors have recently bought and sold shares of ENB. Deutsche Bank AG purchased a new stake in shares of Enbridge in the 2nd quarter worth about $1,850,502,000. Norges Bank purchased a new position in Enbridge during the 4th quarter valued at about $1,195,559,000. Geode Capital Management LLC increased its holdings in Enbridge by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company's stock valued at $1,045,172,000 after acquiring an additional 1,415,995 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Enbridge by 18.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company's stock worth $1,117,353,000 after acquiring an additional 3,205,322 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Enbridge by 4.6% during the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company's stock worth $942,806,000 after acquiring an additional 858,323 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to acquire Tallgrass Energy’s crude transportation business for approximately $2.55 billion. The deal includes a 75% interest in the Pony Express pipeline, which connects Rocky Mountain oil production with the Cushing, Oklahoma storage hub, as well as related storage assets. The acquisition expands Enbridge’s U.S. crude pipeline footprint and could add long-term, fee-based cash flow. Enbridge to acquire Tallgrass Energy's crude transportation business for $2.55 billion
• Positive Sentiment: Enbridge Gas Ohio has begun a $33 million pipeline project in Jackson Township. Although modest relative to Enbridge’s overall business, the project supports system reliability and regulated utility investment. Enbridge Gas Ohio embarks on $33M pipeline project in Jackson Twp.
• Neutral Sentiment: President and CEO Greg Ebel will retire at the end of 2026, with insider Michele Harradence taking over on January 1, 2027. Harradence’s internal appointment reduces transition risk and suggests strategic continuity, though investors will monitor execution under the new leadership. Enbridge names insider Harradence CEO as Greg Ebel retires
• Negative Sentiment: Enbridge launched a roughly CA$2.6 billion bought-deal share offering to help fund the Tallgrass transaction. While the financing supports growth, the new shares may dilute existing shareholders and could increase concerns about leverage and capital-allocation discipline. Enbridge to Buy Tallgrass' Crude Business for $2.55 Billion; Launches CA$2.6 Billion Bought-Deal Offering
• Negative Sentiment: Michigan Governor Gretchen Whitmer said the state is reconsidering permits for Enbridge’s Line 5 and again urged the company to shut the pipeline. Renewed regulatory and shutdown risk threatens one of Enbridge’s important cross-border energy assets. Whitmer says state is rethinking Line 5 permits

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America's largest energy delivery businesses, operating primarily in Canada and the United States.

Enbridge's operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.

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