Enbridge (TSE:ENB) Stock Rating Upgraded by The Goldman Sachs Group

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by equities researchers at The Goldman Sachs Group to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

ENB has been the subject of a number of other reports. National Bank Financial raised shares of Enbridge from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$81.00 to C$82.00 in a research note on Tuesday, September 15th. Jefferies Financial Group lowered their price objective on Enbridge from C$79.00 to C$70.00 in a research note on Tuesday, September 1st. ATB Cormark Capital Markets raised their price target on shares of Enbridge from C$83.00 to C$84.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 15th. Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and increased their price target for the stock from C$77.00 to C$78.00 in a research report on Friday, August 28th. Finally, Raymond James Financial lifted their price target on Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a report on Tuesday, September 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.62.

Enbridge Trading Down 0.6%

TSE:ENB opened at C$65.77 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. Enbridge has a 12 month low of C$62.42 and a 12 month high of C$80.65. The company has a 50-day moving average price of C$70.42 and a 200-day moving average price of C$74.18. The stock has a market cap of C$143.65 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 1.72 and a beta of 0.69.

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. The business had revenue of C$29.32 billion during the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%. Equities analysts predict that Enbridge will post 3.511912 EPS for the current year.

Insider Buying and Selling at Enbridge

In other news, insider Michele Eva Harradence purchased 7,105 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average price of C$67.28 per share, for a total transaction of C$478,024.40. Following the purchase, the insider directly owned 87,467 shares of the company’s stock, valued at C$5,884,779.76. This represents a 8.84% increase in their position. Also, Director Gregory Lorne Ebel bought 7,105 shares of Enbridge stock in a transaction dated 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 completion of the acquisition, the director directly owned 589,721 shares of the company’s stock, valued at approximately C$39,422,848.85. The trade was a 1.22% increase in their position. Corporate insiders own 0.10% of the company’s stock.

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.