RBC Capital analyst Robert Kwan maintained a Buy rating on Enbridge (ENB) today and set a price target of C$58.00. The company’s shares closed last Thursday at $32.15.
According to TipRanks.com, Kwan is a 5-star analyst with an average return of 11.1% and a 71.1% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Fortis.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enbridge with a $40.62 average price target, representing a 25.1% upside. In a report issued on July 15, Morgan Stanley also upgraded the stock to Buy.
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The company has a one-year high of $43.15 and a one-year low of $22.57. Currently, Enbridge has an average volume of 3.39M.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is neutral on the stock.
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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.
