Scotiabank Upgrades Enbridge (TSE:ENB) to “Strong-Buy”

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by investment analysts at Scotiabank to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

Several other brokerages also recently issued reports on ENB. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. National Bank Financial raised Enbridge from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$81.00 to C$82.00 in a research note on Tuesday. TD Securities upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and upped their price objective for the company from C$77.00 to C$78.00 in a research report on Friday, August 28th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$77.62.

Enbridge Stock Down 0.1%

TSE ENB opened at C$68.14 on Thursday. 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 52 week low of C$62.42 and a 52 week high of C$80.65. The firm has a market capitalization of C$148.83 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.72 and a beta of 0.69. The company has a fifty day moving average of C$72.61 and a two-hundred day moving average of C$74.61.

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

Insider Buying and Selling

In other news, Director Gregory Lorne Ebel bought 7,105 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was acquired at an average cost of C$66.85 per share, with a total value of C$474,969.25. Following the transaction, the director directly owned 589,721 shares in the company, valued at approximately C$39,422,848.85. This trade represents a 1.22% increase in their position. 0.10% of the stock is owned by insiders.

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.