Enbridge Inc. (ENB) Still Strongly Favored by Hedge Funds

Enbridge Inc. (NYSE:ENB) is one of the 13 best oil and gas storage stocks to buy according to hedge funds.

As of February 26 closing, consensus sentiment for Enbridge Inc. (NYSE:ENB) was moderately bullish. The stock received coverage from 14 analysts, 6 of whom assigned Buy ratings and 8 gave Hold calls. With no Sell rating, it has a projected median 1-year price target of $55.19.

On February 17, Ben Pham from BMO Capital reiterated his Market Perform rating on Enbridge Inc. (NYSE:ENB). The analyst also increased the firm’s price target on the stock from C$70 to C$75, offering nearly 5% upside to investors.

On February 17, Scotiabank analyst Robert Hope also raised the firm’s price target on Enbridge Inc. (NYSE:ENB) from C$73 to C$77. The analyst reaffirmed an Outperform rating on the shares, with a revised upside potential of almost 8% at the current level.

Enbridge Inc. (NYSE:ENB) is an energy infrastructure company that operates a crude oil and liquids pipeline system that is considered to be amongst the most complex ones in the world. It operates pipelines and terminals for the transportation and storage of crude oil and other liquid hydrocarbons. The company also offers commodity marketing and logistics solutions.

While we acknowledge the potential of ENB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 15 Most Promising Mid-Cap Healthcare Stocks Under $50 and 11 Most Promising Small-Cap Industrial Stocks Under $50.

Disclosure: None. Follow Insider Monkey on Google News.