Shares of Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB were up 1.2% during trading on Wednesday . The company traded as high as $44.89 and last traded at $44.82. Approximately 451,928 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 4,086,282 shares. The stock had previously closed at $44.28.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.
Read Our Latest Research Report on Enbridge
Enbridge Price Performance
The firm has a 50-day simple moving average of $43.15 and a 200-day simple moving average of $42.79. The firm has a market cap of $98.76 billion, a P/E ratio of 26.35, a PEG ratio of 3.92 and a beta of 0.80. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the company earned $0.64 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.
Institutional Investors Weigh In On Enbridge
A number of hedge funds and other institutional investors have recently bought and sold shares of ENB. apricus wealth LLC increased its position in shares of Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after buying an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. raised its stake in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after buying an additional 230 shares during the last quarter. Wintrust Investments LLC boosted its holdings in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after acquiring an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.
Enbridge Company Profile
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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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