TD Securities resumed coverage of Enbridge (ENB) with a Buy rating and C$67 price target following the company’s investment for a 12.5% interest in the Westcoast natural gas pipeline system with the Stonlasec8 Indigenous Alliance Limited Partnership. The announcement is consistent with Enbridge’s commitment to advancing indigenous ownership opportunities, the analyst tells investors in a research note. The firm believse the transaction was completed at a multiple at or near Enbridge’s current trading multiple.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ENB:
- First Nations Partnership to invest C$715M in Enbridge pipeline system
- Enbridge participates in a conference call with JPMorgan
- Enbridge price target raised to C$63 from C$60 at BMO Capital
- Enbridge price target raised to C$64 from C$63 at National Bank
- Enbridge: Strong Performance and Dividend Yield Balanced by Fair Valuation – Hold Rating Maintained