Enbridge (ENB) Receives a Buy from CIBC

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for Enbridge (ENBResearch Report). Analyst Robert Catellier from CIBC reiterated a Buy rating, with a C$57 price target.

According to TipRanks.com, Catellier is a 2-star analyst with an average return of 0.2% and a 55.1% success rate. Catellier covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

Currently, the analyst consensus on Enbridge is a Strong Buy with an average price target of C$56, a 20.9% upside from current levels. In a report issued on January 7, Wolfe Research also upgraded the stock to Buy.

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Enbridge’s market cap is currently C$83.1B and has a P/E ratio of 49.4. The company has a Price to Book ratio of 1.57.

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$46.32.