Enbridge (TSE:ENB) Rating Increased to Outperformer at Canadian Imperial Bank of Commerce

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by research analysts at Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperformer” rating in a research note issued on Friday,BayStreet.CA reports. The firm presently has a C$78.00 target price on the stock, up from their prior target price of C$77.00. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 11.89% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. TD lifted their price target on Enbridge from C$79.00 to C$81.00 and gave the company a “hold” rating in a research report on Thursday, June 25th. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Scotiabank raised their target price on Enbridge from C$78.00 to C$84.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 21st. National Bank Financial raised their target price on Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Finally, Royal Bank Of Canada lifted their target price on Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$76.75.

Enbridge Price Performance

Shares of Enbridge stock traded up C$0.43 on Friday, hitting C$69.71. The company had a trading volume of 1,745,386 shares, compared to its average volume of 8,438,926. Enbridge has a 52 week low of C$62.42 and a 52 week high of C$80.65. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. The company has a market cap of C$152.25 billion, a PE ratio of 26.92, a PEG ratio of 1.72 and a beta of 0.74. The business has a 50-day simple moving average of C$75.54 and a 200-day simple moving average of C$74.90.

Enbridge (TSE:ENB) (NYSE:ENB) last announced 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%. Research analysts expect that Enbridge will post 3.511912 EPS 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.