Enbridge (TSE:ENB) Stock Rating Upgraded by Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a C$73.00 price target on the stock, up from their previous price target of C$70.00. Scotiabank’s target price suggests a potential upside of 10.72% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on ENB. National Bankshares upped their price target on Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Raymond James Financial boosted their target price on shares of Enbridge from C$74.00 to C$76.00 in a research report on Monday, November 10th. Jefferies Financial Group decreased their target price on shares of Enbridge from C$73.00 to C$71.00 in a research note on Tuesday, December 23rd. Barclays lifted 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 research note on Monday, October 6th. Finally, ATB Capital set a C$72.00 price objective on shares of Enbridge and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.50.

Enbridge Stock Up 1.3%

Enbridge stock traded up C$0.85 during trading on Friday, reaching C$65.93. 2,064,475 shares of the company’s stock were exchanged, compared to its average volume of 5,881,031. The company’s 50-day moving average is C$65.90 and its two-hundred day moving average is C$65.55. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. Enbridge has a 52-week low of C$56.51 and a 52-week high of C$70.39. The firm has a market cap of C$143.93 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.72 and a beta of 0.90.

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

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. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.