Positive Report for Enbridge (ENB) from Barclays

By Ryan Adsit

Barclays analyst Christine Cho, CFA upgraded Enbridge (ENBResearch Report) to Buy yesterday and set a price target of C$49.00. The company’s shares closed last Monday at $26.92.

According to TipRanks.com, CFA is a 2-star analyst with an average return of -1.2% and a 50.3% success rate. CFA covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners, Cheniere Energy Partners, and Dcp Midstream Partners.

Enbridge has an analyst consensus of Moderate Buy, with a price target consensus of $36.53, a 45.0% upside from current levels. In a report issued on March 16, Tudor Pickering also upgraded the stock to Buy.

See today’s analyst top recommended stocks >>

Enbridge’s market cap is currently $54.52B and has a P/E ratio of 11.70. The company has a Price to Book ratio of 3.04.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest and other feeder pipelines. The Gas Distribution segment consists of the company’s natural gas utility operations which serve residential, commercial and industrial customers, primarily in central and eastern Ontario as well as northern New York State. The Gas Transmission and Midstream segment comprises of investments in natural gas pipelines, processing and green energy projects, the company’s commodity marketing businesses and international activities. The Green Power and Transmission segment consists of the company’s investments in renewable energy assets and transmission facilities. The Energy Services segment consists of businesses in Canada and the United States undertake physical commodity marketing activity and logistical services, oversee refinery supply services and manage the company’s volume commitments on various pipeline systems. The company was founded on April 30, 1949 and is headquartered in Calgary, Canada.