New Buy Rating for Enbridge (ENB), the Energy Giant

By Ryan Adsit

The Materials sector company, Enbridge (TSX: ENB), has received a rating update from a Wall Street analyst yesterday. Analyst Ian Gillies from GMP FirstEnergy rated Enbridge (TSX: ENB) a Buy, setting a C$58 price target.

According to TipRanks.com, Gillies is ranked #4545 out of 4848 analysts.

Read also: Crude Oil: Sell Now, Buy Later

Currently, the analyst consensus on Enbridge is a Strong Buy with an average price target of C$54.

Enbridge’s market cap is currently C$79.33B and has a P/E ratio of 33.9. The company has a Price to Book ratio of 1.48.

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 Friday at C$46.53.