Scotiabank Reiterates “Sector Outperform” Rating for Enbridge (ENB)
Enbridge (NYSE:ENB)‘s stock had its “sector outperform” rating restated by analysts at Scotiabank in a research report issued to clients and investors on Thursday, Analyst Ratings Network reports.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Enbridge from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 24th. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Enbridge in a research note on Friday, December 20th. Finally, analysts at CIBC reiterated a “sector outperform” rating on shares of Enbridge in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $52.00.
Enbridge (NYSE:ENB) traded up 0.23% during mid-day trading on Thursday, hitting $42.93. 1,131,054 shares of the company’s stock traded hands. Enbridge has a 1-year low of $39.69 and a 1-year high of $48.41. The stock’s 50-day moving average is $42.50 and its 200-day moving average is $42.12. The company has a market cap of $34.734 billion and a price-to-earnings ratio of 76.35.
Enbridge (NYSE:ENB) last announced its earnings results on Thursday, February 13th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the company posted $0.42 earnings per share. Enbridge’s revenue was up 18.4% compared to the same quarter last year. On average, analysts predict that Enbridge will post $1.95 earnings per share for the current fiscal year.
Enbridge Inc is an energy delivery company that operates in Canada and the United States. It has four segments: Liquids Pipelines, which includes the operation and construction of the Enbridge crude oil mainline system and feeder pipelines that transport crude oil and other liquid hydrocarbons; Natural Gas Delivery and Services, which consists of natural gas utility operations investments in natural gas pipelines; Sponsored Investments, which includes the Company’s 27% ownership interest in Enbridge Energy Partners, L.
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