Cibc World Mkts Downgrades Enbridge (TSE:ENB) to Hold

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from C$68.00 to C$70.00 in a research note on Thursday. National Bankshares lifted 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. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating and boosted their price target for the company from C$65.00 to C$72.00 in a research note on Wednesday, July 23rd. Barclays boosted their price target on shares of Enbridge from C$65.00 to C$68.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Argus raised shares of Enbridge to a “strong-buy” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$67.53.

Enbridge Price Performance

Shares of ENB stock opened at C$66.77 on Thursday. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The firm’s 50-day moving average is C$67.01 and its two-hundred day moving average is C$64.00. Enbridge has a 12 month low of C$55.53 and a 12 month high of C$70.39. The company has a market capitalization of C$145.59 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89.

Enbridge Company Profile

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.