Enbridge (ENB), 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.
.
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.
