Enbridge (ENB) Gets a Buy Rating from BMO Capital

By Ryan Adsit

Enbridge (ENBResearch Report), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Benjamin Pham from BMO Capital remains bullish on the stock and has a C$59 price target.

According to TipRanks.com, Pham is ranked #895 out of 4900 analysts.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enbridge with a C$54 average price target, a 27.8% upside from current levels. In a report issued on October 23, CIBC also reiterated a Buy rating on the stock with a C$55 price target.

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Based on Enbridge’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$11.21 billion and net profit of C$4 million. In comparison, last year the company earned revenue of C$9.08 billion and had a net profit of C$847 million.

Enbridge, Inc. engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution, Gas Distribution, Green Power and Transmission, Energy Services, and Eliminations and Other.

The company’s shares closed on Monday at C$42.26.