Enbridge (TSE:ENB) Downgraded by CIBC to Neutral

Key Points

• CIBC downgraded Enbridge from an "outperform" rating to a "neutral" rating, updating their price target to C$70.00, indicating a potential upside of 3.78% from its current price.
• Other analysts have mixed views, with ATB Capital maintaining an "outperform" rating and a target of C$67.00, while Jefferies upgraded their rating to "buy" with a target of C$72.00.
• Enbridge's stock has seen volatility, recently trading at C$67.45, down C$1.01, and has a market cap of C$147.08 billion.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB was downgraded by research analysts at CIBC from an "outperform" rating to a "neutral" rating in a research note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$70.00 price target on the stock, up from their prior price target of C$68.00. CIBC's target price suggests a potential upside of 3.78% from the company's current price.

A number of other equities research analysts also recently issued reports on the company. ATB Capital boosted their price target on Enbridge from C$66.00 to C$67.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. National Bankshares upped their price target on Enbridge from C$64.00 to C$65.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating and upped their price target for the stock from C$65.00 to C$72.00 in a research note on Wednesday, July 23rd. Argus upgraded Enbridge to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Barclays upped their price target on Enbridge from C$65.00 to C$68.00 and gave the stock an "equal weight" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and a consensus target price of C$67.53.

Enbridge Stock Performance

TSE:ENB traded down C$1.01 during mid-day trading on Thursday, reaching C$67.45. The company's stock had a trading volume of 1,783,035 shares, compared to its average volume of 7,984,581. Enbridge has a 12-month low of C$55.53 and a 12-month high of C$70.39. The firm's fifty day moving average price is C$66.86 and its two-hundred day moving average price is C$63.95. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The stock has a market cap of C$147.08 billion, a P/E ratio of 23.75, a PEG ratio of 1.72 and a beta of 0.89.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company.

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