Enbridge (NYSE:ENB) Price Target Raised to $54.00

Key Points

• Research analysts at Argus have raised their price target for Enbridge from $50.00 to $54.00, indicating a potential upside of 14.08% from the stock's previous close.
• Five analysts rated Enbridge with a hold rating while six assigned a buy rating, resulting in an average rating of "Moderate Buy" and an average price target of $60.50.
• Enbridge reported a quarterly earnings per share of $0.47, exceeding expectations of $0.41, with revenues totaling $7.14 billion for the quarter.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB had its target price raised by research analysts at Argus from $50.00 to $54.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the pipeline company's stock. Argus' price objective suggests a potential upside of 14.08% from the stock's previous close.

Several other equities research analysts have also recently weighed in on ENB. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Finally, Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Stock Performance

ENB traded down $0.15 during midday trading on Tuesday, hitting $47.34. 1,986,233 shares of the company traded hands, compared to its average volume of 3,971,027. The firm has a market capitalization of $103.22 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company's 50-day moving average is $45.49 and its 200 day moving average is $44.65. Enbridge has a 52 week low of $38.44 and a 52 week high of $47.62.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the prior year, the business earned $0.58 EPS. On average, research analysts expect that Enbridge will post 2.14 EPS for the current year.

Institutional Trading of Enbridge

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its position in shares of Enbridge by 1.2% during the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company's stock valued at $826,000 after buying an additional 221 shares during the last quarter. Capital Investment Counsel Inc grew its stake in Enbridge by 3.1% during the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock worth $333,000 after buying an additional 223 shares during the last quarter. New England Capital Financial Advisors LLC grew its stake in Enbridge by 21.0% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company's stock worth $58,000 after buying an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after buying an additional 226 shares during the last quarter. Finally, Loudon Investment Management LLC grew its stake in Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock worth $939,000 after buying an additional 240 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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