Around 74% of the Reuters-surveyed analysts have rated Enbridge (ENB) as a “buy” or “strong buy,” while the remaining analysts rate it as a “hold.” Enbridge doesn’t have any “sell” recommendations from the surveyed analysts. The mean target price for Enbridge is 53.8 Canadian dollars, which implies an upside of ~9% from its current price.
As the above graph shows, more analysts have turned bullish on Enbridge over the last year. However, the company’s mean target price has remained relatively flat over the last several months.
Recommendations for peers
Among the 20 analysts covering TransCanada (TRP), four recommended a “strong buy,” nine recommended a “buy,” six recommended a “hold,” and one recommended a “sell.” The mean target price for the stock is 63.2 Canadian dollars, which implies an upside potential of ~3% from its current price.
Based on the mean target price of $21.5, Kinder Morgan (KMI) has an upside potential of ~8% from its current price. Williams Companies (WMB) has an upside potential of 10%, while ONEOK (OKE) is trading close to its mean target price. Based on analysts’ mean target price, Enbridge has the highest upside potential after Williams Companies among the selected peers.
For an overview of midstream stocks’ first-quarter performance, read Midstream Stocks Outperformed Broader Markets in Q1.