Enbridge (ENB) Gets a Buy Rating from Tudor Pickering

By Carrie Williams

Tudor Pickering analyst Tudor Pickering maintained a Buy rating on Enbridge (ENBResearch Report) on June 9 and set a price target of C$52.00. The company’s shares closed last Thursday at $39.75, close to its 52-week high of $40.42.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enbridge with a $45.18 average price target, representing a 13.0% upside. In a report issued on May 25, Argus Research also maintained a Buy rating on the stock with a $43.00 price target.

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Based on Enbridge’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $12.19 billion and net profit of $1.99 billion. In comparison, last year the company earned revenue of $12.01 billion and had a GAAP net loss of $1.33 billion.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock.

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Enbridge, Inc. is a Canadian energy infrastructure company that transports crude and other liquid hydrocarbons. The pipeline giant is also engaged in renewable power generation, gas distribution and storage as well as energy marketing services.