Wells Fargo & Company Upgrades Enbridge (TSE:ENB) to Hold

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by equities research analysts at Wells Fargo & Company from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

Several other equities research analysts have also commented on ENB. Raymond James upped their target price on Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. BMO Capital Markets upped their target price on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and upped their target price for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. CIBC increased their price target on Enbridge from C$59.00 to C$67.00 in a report on Monday. Finally, Royal Bank of Canada increased their price target on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$56.92.

Enbridge Stock Up 2.0 %

Shares of Enbridge stock opened at C$57.91 on Wednesday. Enbridge has a one year low of C$45.05 and a one year high of C$58.28. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The stock’s 50-day moving average is C$55.70 and its 200 day moving average is C$52.08. The firm has a market cap of C$126.24 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.72 and a beta of 0.90.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. In other Enbridge news, Director Steven Walter Williams purchased 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.