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

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

A number of other research firms also recently issued reports on ENB. CIBC raised their target price on Enbridge from C$59.00 to C$67.00 in a research report on Monday. Royal Bank of Canada raised their target price on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Morgan Stanley set a C$64.00 target price on Enbridge and gave the stock an “equal weight” rating in a research report on Friday, October 25th. National Bankshares raised their target price on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. raised their target price on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$56.92.

Enbridge Stock Performance

TSE:ENB opened at C$57.91 on Wednesday. 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 business has a fifty day simple moving average of C$55.70 and a two-hundred day simple moving average of C$52.08. Enbridge has a 1 year low of C$45.05 and a 1 year high of C$58.28. The company has a market capitalization of C$126.24 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.72 and a beta of 0.90.

Insider Activity at Enbridge

In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of C$53.74 per share, with a total value of C$999,564.00. In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction 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. 0.10% of the stock is owned by corporate insiders.

About Enbridge

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.