Enbridge initiated with a Buy at TD Securities

TD Securities last night initiated coverage of Enbridge (ENB) with a Buy rating and C$66 price target Companies with natural gas exposure and size advantages ranked best in TD’s scorecard, and should trade at the highest multiples, the analyst tells investors in a research note. The firm says the Canadian Midstream sector offers income-oriented investors low financial volatility and a growing dividend with an attractive yield. TD named Pembina its top pick in the group. Enbridge ranked third overall in TD’s scorecard, due to its strong portfolio quality and its ability to leverage its growing natural gas platform, the firm points out.