Goldman Sachs Upgrades Enbridge to Hold Rating Amidst Ongoing Analyst Revisions

Enbridge (TSE:ENB) has received an upgrade from The Goldman Sachs Group to a 'hold' rating, according to Zacks. This is not the only change in Enbridge's ratings this week; several other firms have also updated their views on the company.

Raymond James Financial boosted its target price for Enbridge from C$79.00 to C$80.00 and assigned a 'market perform' rating. In contrast, Jefferies Financial Group reduced its price target for shares of Enbridge from C$79.00 to C$70.00 in a recent report.

Several analysts have weighed in on Enbridge this week, with BMO Capital Markets upgrading the stock from 'hold' to 'outperform' and increasing its price objective from C$79.00 to C$79.50. National Bank Financial also upgraded Enbridge from 'sector perform' to 'outperform,' raising its target price from C$81.00 to C$82.00.

TD upgraded shares of Enbridge from a 'hold' rating to a 'buy' rating and reduced its price objective for the company from C$82.00 to C$81.00 in a report on Tuesday, September 15th.

The average rating for Enbridge is now 'moderate buy,' with an average price target of C$77.62, based on data from MarketBeat. Shares of TSE ENB opened at C$65.77 on Wednesday, with the company having a market cap of C$143.65 billion and a P/E ratio of 25.39.

Enbridge has also seen insider activity in recent days. On Monday, September 14th, Director Gregory Lorne Ebel acquired 7,105 shares of the company's stock at an average price of C$66.85 per share, totaling C$474,969.25. Following this purchase, the director owned 589,721 shares in the company.

Additionally, insider Michele Eva Harradence purchased 7,105 shares of Enbridge's stock on Monday, September 14th at an average cost of C$67.28 per share, totaling C$478,024.40. After this acquisition, the insider owned 87,467 shares of the company's stock.

Insiders currently own approximately 0.10% of Enbridge's outstanding shares.