The Globe and Mail reports in its Friday, Sept. 8, edition that Scotia Capital analyst Robert Hope has reaffirmed his "sector perform" recommendation for Enbridge. The Globe's David Leeder writes in the Eye On Equities column that Mr. Hope gave his share target a $2 trim to $52. Analysts on average target the shares at $56.42. Mr. Hope sees Enbridge's $19-billion acquisition of three natural gas distribution utilities from Dominion Energy as "a large tuck-in, not a pivot." He resumed coverage on Friday following its $4.6-billion common equity offering. Mr. Hope says in a note: "Overall, we have a positive view of the transaction as it checks many boxes in our eyes. ... The transaction improves the overall quality and stability of Enbridge's asset base, while also increasing the predictability and visibility of its growth outlook. We see the transaction as being approximately 1 per cent accretive to EPS and distributable cash flow in 2025. Though, the upfront equity financing is dilutive to our 2023 and 2024 estimates. Longer term, this accretion increases given the acquired utility assets should grow faster than Enbridge's base business. At recent levels, we see limited downside in the shares."