BMO Capital Markets Upgrades Enbridge (TSE:ENB) to Outperform

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, BayStreet reports. The brokerage presently has a C$79.50 price target on the stock, up from their previous price target of C$79.00. BMO Capital Markets’ price objective would indicate a potential upside of 17.81% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Canadian Imperial Bank of Commerce upgraded Enbridge from a “hold” rating to an “outperformer” rating and upped their price objective for the stock from C$77.00 to C$78.00 in a research report on Friday, August 28th. Raymond James Financial boosted their target price on shares of Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a research note on Tuesday. Jefferies Financial Group lowered their price target on shares of Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. National Bank Financial set a C$81.00 price target on shares of Enbridge and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Enbridge from C$83.00 to C$84.00 and gave the company an “outperform” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.62.

Enbridge Stock Performance

Shares of ENB stock traded up C$0.45 on Tuesday, hitting C$67.48. The company had a trading volume of 2,607,367 shares, compared to its average volume of 8,622,322. The firm has a market cap of C$147.38 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69. The company has a 50-day moving average price of C$73.40 and a 200-day moving average price of C$74.74. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 171.59. Enbridge has a twelve month low of C$62.42 and a twelve month high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, July 31st. The company reported C$0.63 EPS for the quarter. The firm had revenue of C$29.32 billion for the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%. As a group, equities research analysts predict that Enbridge will post 3.511912 earnings per share 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.