Enbridge (TSE:ENB) Rating Lowered to “Hold” at TD Securities

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

Other equities analysts have also issued research reports about the company. BMO Capital Markets raised their price objective on Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. National Bank Financial raised their price target on shares of Enbridge from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Canadian Imperial Bank of Commerce lowered their target price on Enbridge from C$71.00 to C$69.00 in a report on Wednesday, December 17th. Royal Bank Of Canada upped their price objective on Enbridge from C$67.00 to C$72.00 in a research note on Monday, November 10th. Finally, Raymond James Financial upped their price target on shares of Enbridge from C$74.00 to C$76.00 in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$73.31.

Enbridge Stock Down 4.3%

ENB traded down C$3.12 during mid-day trading on Tuesday, reaching C$70.18. 6,281,935 shares of the stock were exchanged, compared to its average volume of 8,972,060. Enbridge has a 1 year low of C$56.51 and a 1 year high of C$73.71. The company has a 50 day moving average price of C$66.00 and a two-hundred day moving average price of C$66.57. The stock has a market capitalization of C$153.20 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. 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 (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) 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 for the quarter. As a group, research analysts anticipate that Enbridge will post 3.511912 EPS for the current year.

Enbridge Company Profile

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.