In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Enbridge (TSX: ENB). Analyst David Galison from Canaccord Genuity rated Enbridge (TSX: ENB) a Buy, setting a C$52 price target.
Galison wrote:
“We are currently estimating an in-service date of Enbridge has reiterated the capital budget for the program. For important information, please see the Important Disclosures beginning on page 3 of this document.2 MPUC, Company Reports, Canaccord Genuity Enbridge Inc.”
According to TipRanks.com, Galison is ranked #975 out of 4827 analysts.
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Currently, the analyst consensus on Enbridge is a Strong Buy with an average price target of C$53.33.
Based on Enbridge’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$12.94 billion and net profit of C$534 million. In comparison, last year the company earned revenue of C$10.88 billion and had a net profit of C$1 billion.
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 Thursday at C$43.90.
