Enbridge (TSE:ENB) Raised to Outperform at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has a C$73.00 target price on the stock, up from their previous target price of C$70.00. Scotiabank’s price target would suggest a potential upside of 10.32% from the company’s previous close.

Several other equities analysts have also commented on the company. Jefferies Financial Group lowered their price objective on Enbridge from C$73.00 to C$71.00 in a research report on Tuesday, December 23rd. Royal Bank Of Canada lifted their price target on shares of Enbridge from C$67.00 to C$72.00 in a research report on Monday, November 10th. National Bankshares boosted their price objective on shares of Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Barclays lifted their target price on shares of Enbridge from C$65.00 to C$68.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Finally, Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of C$71.50.

Enbridge Price Performance

ENB stock opened at C$66.17 on Friday. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. Enbridge has a 1 year low of C$56.51 and a 1 year high of C$70.39. The firm has a 50-day moving average of C$65.88 and a 200 day moving average of C$65.60. The company has a market cap of C$144.45 billion, a P/E ratio of 25.95, a PEG ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. The firm had revenue of C$14.64 billion for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. On average, sell-side analysts forecast that Enbridge will post 3.511912 EPS for the current year.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.