Enbridge (NYSE:ENB) Trading Up 1.2% - Time to Buy?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shares shot up 1.2% during trading on Wednesday . The company traded as high as $44.89 and last traded at $44.82. 451,928 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,086,282 shares. The stock had previously closed at $44.28.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. CIBC restated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Citigroup began coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Stock Performance

The firm has a market capitalization of $99.30 billion, a PE ratio of 26.48, a price-to-earnings-growth 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. The business's 50 day simple moving average is $43.15 and its two-hundred day simple moving average is $42.83.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during 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 period in the previous year, the company posted $0.64 EPS. Research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently bought and sold shares of ENB. apricus wealth LLC lifted its position in shares of Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after buying an additional 220 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Enbridge by 0.7% in the first 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 purchasing an additional 226 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of 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. increased its stake in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after buying an additional 230 shares in the last quarter. Finally, Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 238 shares in the last quarter. 54.60% of the stock is owned by 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.