Enbridge Inc. (NYSE:ENB) Sees Large Growth in Short Interest

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 30,700,000 shares, a growth of 49.8% from the March 15th total of 20,490,000 shares. Currently, 1.4% of the company's stock are sold short. Based on an average daily volume of 4,170,000 shares, the short-interest ratio is currently 7.4 days.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently bought and sold shares of ENB. apricus wealth LLC lifted its holdings in 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 purchasing an additional 220 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Enbridge by 0.7% in 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 valued at $1,526,000 after buying an additional 226 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after acquiring an additional 227 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after acquiring an additional 230 shares during the period. Finally, Wintrust Investments LLC grew 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 purchasing an additional 238 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 0.7 %

ENB stock traded down $0.34 during mid-day trading on Monday, reaching $45.03. The company had a trading volume of 3,450,084 shares, compared to its average volume of 4,362,360. Enbridge has a 52 week low of $34.60 and a 52 week high of $46.12. The company has a market capitalization of $98.13 billion, a price-to-earnings ratio of 26.18, 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 stock has a 50 day simple moving average of $43.15 and a two-hundred day simple moving average of $42.83.

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

Wall Street Analysts Forecast Growth

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

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.