Enbridge (ENB) Receives a Buy from BMO Capital

By Austin Angelo

Enbridge (ENBResearch Report), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. The company received a Buy rating from BMO Capital’s analyst Benjamin Pham, with a C$57 price target.

According to TipRanks.com, Pham is a 5-star analyst with an average return of 8.3% and a 79.3% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners L.P., Pattern Energy, and Fortis Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enbridge with a C$55.57 average price target, implying a 12.2% upside from current levels. In a report issued on February 18, Wells Fargo also maintained a Buy rating on the stock.

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Based on Enbridge’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$11.6 billion and net profit of C$1.18 billion. In comparison, last year the company earned revenue of C$12.81 billion and had a net profit of C$291 million.

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

The company’s shares closed on Friday at C$49.51, close to its 52-week high of C$49.70.