Enbridge (TSE:ENB) Stock Rating Upgraded by Wells Fargo & Company

Enbridge (TSE:ENB) (NYSE:ENB) was upgraded by Wells Fargo & Company from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

ENB has been the subject of several other reports. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price target on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Raymond James increased their price objective on Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. CIBC increased their price objective on Enbridge from C$59.00 to C$67.00 in a research report on Monday. Finally, National Bankshares raised their price target on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$56.92.

Enbridge Stock Up 1.6 %

Shares of TSE:ENB opened at C$58.81 on Wednesday. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The firm has a market capitalization of C$128.21 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The firm’s 50-day moving average is C$55.70 and its two-hundred day moving average is C$52.08. Enbridge has a 1 year low of C$45.05 and a 1 year high of C$58.99.

Insiders Place Their Bets

In related news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. In related news, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Corporate insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.