Enbridge (TSE:ENB) Rating Increased to Strong-Buy at Argus

Key Points

• Enbridge has received a rating upgrade to "strong-buy" from Argus, signaling increased investor confidence in the stock.
• Several other analysts have also raised their ratings and price targets, with a current average target price of C$67.07 for the stock.
• As of Tuesday, Enbridge shares opened at C$65.64, reflecting recent upward movement in stock performance.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB was upgraded by Argus to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. National Bankshares increased their target price on shares of 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. Echelon Wealth Partners lifted their price target on shares of Enbridge from C$67.00 to C$74.00 in a research note on Wednesday, April 23rd. BMO Capital Markets upped their price objective on shares of Enbridge from C$60.00 to C$63.00 in a report on Monday, May 12th. Finally, ATB Capital raised their target price 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. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$67.07.

Enbridge Stock Up 0.6%

Shares of Enbridge stock opened at C$65.64 on Tuesday. The stock's 50-day moving average is C$62.34 and its 200 day moving average is C$62.43. Enbridge has a one year low of C$52.76 and a one year high of C$65.92. The firm has a market cap of C$142.26 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44.

Insider Buying and Selling

In other news, Senior Officer Maximilian Chan sold 801 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of C$63.17, for a total value of C$50,599.17. Corporate insiders own 0.10% of the company's stock.

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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