Enbridge's (ENB) "Outperform" Rating Reiterated at Royal Bank of Canada

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB's stock had its "outperform" rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They presently have a $67.00 target price on the pipeline company's stock. Royal Bank of Canada's target price points to a potential upside of 50.95% from the stock's previous close.

ENB has been the topic of a number of other reports. Raymond James raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, CIBC reissued an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Stock Performance

Shares of NYSE ENB traded down $1.72 during trading hours on Monday, reaching $44.39. The stock had a trading volume of 3,085,538 shares, compared to its average volume of 4,135,429. The firm has a market cap of $96.76 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.92 and a beta of 0.84. 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 has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The firm has a 50-day moving average of $44.24 and a 200-day moving average of $43.33.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the business posted $0.92 EPS. Equities research analysts predict that Enbridge will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Enbridge

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock valued at $781,792,000 after acquiring an additional 1,680,116 shares during the period. Lcnb Corp boosted its holdings in Enbridge by 3.4% during the first quarter. Lcnb Corp now owns 14,141 shares of the pipeline company's stock valued at $627,000 after acquiring an additional 462 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Enbridge during the first quarter valued at about $11,339,000. Townsquare Capital LLC raised its position in shares of Enbridge by 1.6% during the first quarter. Townsquare Capital LLC now owns 355,315 shares of the pipeline company's stock valued at $15,744,000 after buying an additional 5,671 shares during the last quarter. Finally, Founders Financial Alliance LLC raised its position in shares of Enbridge by 31.3% during the first quarter. Founders Financial Alliance LLC now owns 17,294 shares of the pipeline company's stock valued at $766,000 after buying an additional 4,124 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

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.

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