Enbridge (NYSE:ENB) Trading Up 1.7% - What's Next?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shares traded up 1.7% on Friday . The company traded as high as $45.82 and last traded at $45.32. 4,781,000 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 4,404,780 shares. The stock had previously closed at $44.57.

Analyst Upgrades and Downgrades

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

Enbridge Trading Up 1.3 %

The firm has a market cap of $99.36 billion, a PE ratio of 26.51, a PEG ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The business has a 50-day moving average price of $43.15 and a two-hundred day moving average price of $42.83.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $0.64 EPS. Analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently made changes to their positions in ENB. Garde Capital Inc. purchased a new position in Enbridge in the 1st quarter valued at about $26,000. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge in the fourth quarter valued at $29,000. Wintrust Investments LLC lifted its position in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. Finally, GeoWealth Management LLC grew its holdings in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after buying an additional 611 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Company Profile

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.