Enbridge (TSE:ENB) Raised to “Outperform” at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by Scotiabank from a “sector perform” rating to an “outperform” rating in a report released on Friday,BayStreet.CA reports. The firm currently has a C$73.00 price objective on the stock, up from their previous price objective of C$70.00. Scotiabank’s target price would indicate a potential upside of 10.72% from the company’s current price.

ENB has been the topic of several other research reports. Jefferies Financial Group reduced their price target on shares of Enbridge from C$73.00 to C$71.00 in a report on Tuesday, December 23rd. ATB Capital set a C$72.00 price objective on Enbridge and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. National Bankshares upped their target price on Enbridge from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Barclays raised their price target on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Finally, Raymond James Financial boosted their price target on Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$71.50.

Enbridge Price Performance

Enbridge stock traded up C$0.85 during trading hours on Friday, hitting C$65.93. The stock had a trading volume of 2,064,475 shares, compared to its average volume of 5,881,031. Enbridge has a 1-year low of C$56.51 and a 1-year high of C$70.39. The stock has a market capitalization 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. The stock’s fifty 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 current ratio of 0.62 and a quick ratio of 0.44.

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