Enbridge Inc (NYSE:ENB) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts have a consensus rating of Moderate Buy on Enbridge from 13 brokerages (seven buy, six hold), with an average 12‑month price target of $65.
• Enbridge beat quarterly EPS estimates (reported $0.63 vs. $0.60) and posted revenue of $17.18 billion; the stock opened at $54.01, trading near its 52‑week high of $54.70 and with a market cap of $117.85 billion.
• Notable analyst moves include RBC raising its target to $76 and Weiss upgrading to buy, while institutional investors own about 54.6% of the shares and several funds recently increased positions.

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB has been assigned a consensus rating of "Moderate Buy" from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $65.00.

ENB has been the subject of several analyst reports. Royal Bank Of Canada increased their price target on shares of Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Citigroup restated a "buy" rating on shares of Enbridge in a research report on Thursday, February 19th. TD Securities downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an "overweight" rating to a "neutral" rating in a report on Tuesday, January 27th. Finally, Weiss Ratings raised Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th.

Enbridge Price Performance

ENB opened at $54.01 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The stock's 50 day simple moving average is $50.87 and its 200 day simple moving average is $48.97. The firm has a market cap of $117.85 billion, a price-to-earnings ratio of 23.48 and a beta of 0.67. Enbridge has a 1 year low of $39.73 and a 1 year high of $54.70.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, analysts predict that Enbridge will post 2.14 earnings per share for the current year.

Institutional Trading of Enbridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Westwood Holdings Group Inc. lifted its stake in shares of Enbridge by 83.1% in the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company's stock worth $104,284,000 after buying an additional 1,044,093 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company's stock valued at $83,176,000 after acquiring an additional 221,976 shares in the last quarter. Trajan Wealth LLC raised its holdings in Enbridge by 15.3% in the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company's stock worth $40,583,000 after acquiring an additional 106,784 shares during the last quarter. Principal Financial Group Inc. lifted its position in Enbridge by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company's stock valued at $17,113,000 after acquiring an additional 24,165 shares in the last quarter. Finally, Capital Advisors Inc. OK boosted its stake in Enbridge by 5.7% during the 3rd quarter. Capital Advisors Inc. OK now owns 951,773 shares of the pipeline company's stock valued at $48,026,000 after purchasing an additional 51,645 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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