Enbridge (TSE:ENB) Downgraded by TD Securities to “Hold”

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$72.00 target price on the stock, up from their previous target price of C$70.00. TD Securities’ price objective indicates a potential upside of 2.59% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Royal Bank Of Canada increased their price target on Enbridge from C$67.00 to C$72.00 in a research note on Monday, November 10th. Raymond James Financial raised their target price on Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. National Bank Financial lifted their price objective on 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. BMO Capital Markets boosted their price objective on Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. Finally, ATB Cormark Capital Markets lifted their price target on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$73.31.

Enbridge Price Performance

Shares of ENB traded down C$3.12 during mid-day trading on Tuesday, hitting C$70.18. The company’s stock had a trading volume of 6,281,935 shares, compared to its average volume of 8,972,060. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. Enbridge has a 1-year low of C$56.51 and a 1-year high of C$73.71. The firm has a market capitalization of C$153.20 billion, a P/E ratio of 27.52, a P/E/G ratio of 1.72 and a beta of 0.95. The firm has a 50-day simple moving average of C$66.00 and a 200 day simple moving average of C$66.57.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The business had revenue of C$17.18 billion during the quarter. Analysts predict that Enbridge will post 3.511912 EPS for the current fiscal 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.