Enbridge (TSE:ENB) Rating Increased to Outperform at National Bank Financial

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by stock analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, BayStreet reports. The firm currently has a C$82.00 price objective on the stock, up from their prior price objective of C$81.00. National Bank Financial’s price objective indicates a potential upside of 21.52% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. ATB Cormark Capital Markets upped their target price on Enbridge from C$83.00 to C$84.00 and gave the company an “outperform” rating in a report on Tuesday. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “hold” rating to an “outperformer” rating and raised their price target for the stock from C$77.00 to C$78.00 in a report on Friday, August 28th. BMO Capital Markets raised shares of Enbridge from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$79.00 to C$79.50 in a research report on Tuesday. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, Raymond James Financial increased their target price on shares of Enbridge from C$79.00 to C$80.00 and gave the stock a “market perform” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average target price of C$77.62.

Enbridge Stock Up 0.7%

Shares of ENB stock traded up C$0.45 on Tuesday, reaching C$67.48. 2,607,367 shares of the company’s stock traded hands, compared to its average volume of 8,622,322. Enbridge has a 12-month low of C$62.42 and a 12-month high of C$80.65. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72. The company has a market capitalization 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 business’s 50 day moving average price is C$73.40 and its two-hundred day moving average price is C$74.74.

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