Enbridge (TSE:ENB) Rating Lowered to “Neutral” at CIBC

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by equities research analysts at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$70.00 price objective on the stock, up from their previous price objective of C$68.00. CIBC’s price objective would suggest a potential upside of 4.84% from the company’s current price.

ENB has been the subject of several other reports. Argus upgraded shares of Enbridge to a “strong-buy” rating in a research note on Tuesday, August 12th. National Bankshares raised their price target on shares of Enbridge from C$64.00 to C$65.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 5th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating and raised their price target for the stock from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. Barclays raised their price target on shares of Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Finally, ATB Capital raised their price target on shares of Enbridge from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average price target of C$67.53.

Enbridge Price Performance

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

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.