Barclays Maintains a Hold on Enbridge (ENB)

Enbridge Inc. (NYSE:ENB) is one of the best growth stocks under $50 to buy now. Barclays analyst Theresa Chen maintained a Hold rating on Enbridge Inc. (NYSE:ENB) on September 3, setting a price target of C$65.00.

Enbridge Inc. (NYSE:ENB) announced on September 2 that it reached a final investment decision on two attractive Gas Transmission projects. It signed a commercial agreement for the Algonquin Reliable Affordable Resilient Enhancement project (AGT Enhancement).

Management reported that this is anticipated to raise deliveries on Algonquin Gas Transmission pipeline to existing Local Distribution Company (LDC) customers in the US Northeast.

Enbridge Inc. (NYSE:ENB) further reported that through its Matterhorn joint venture, it made a final investment decision on the Eiger Express Pipeline (Eiger), which is “an up to 2.5 billion cubic feet per day (Bcf/d) pipeline from the Permian Basin to the Katy area to serve the growing U.S. Gulf Coast LNG market.”

Enbridge Inc. (NYSE:ENB) provides gas and oil. The company’s operations are divided into the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services.

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Disclosure: None. This article is originally published at Insider Monkey.