Wall Street Zen Upgrades Enbridge (NYSE:ENB) to "Hold"

Key Points

• Wall Street Zen upgraded Enbridge from "sell" to "hold", adding to a mixed but generally positive analyst picture for the stock.
• Other firms remain more upbeat: several analysts reiterated buy or outperform ratings, and MarketBeat shows a consensus “Moderate Buy” with an average price target of $66.50.
• Enbridge recently reported Q1 earnings beat expectations, posting $0.71 EPS on $9.37 billion in revenue, while shares traded at $54.64 near the middle of their 52-week range.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday.

A number of other brokerages have also issued reports on ENB. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reissued a "buy (b)" rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank restated an "outperform" rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Royal Bank Of Canada upped their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.50.

Enbridge Stock Performance

Shares of Enbridge stock traded up $0.05 on Friday, hitting $54.64. The stock had a trading volume of 2,330,853 shares, compared to its average volume of 3,703,008. Enbridge has a 52-week low of $44.13 and a 52-week high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a market cap of $119.34 billion, a price-to-earnings ratio of 25.65 and a beta of 0.58. The company's 50 day moving average price is $55.48 and its 200 day moving average price is $52.65.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the business posted $1.03 EPS. On average, research analysts anticipate that Enbridge will post 2.15 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Several institutional investors have recently bought and sold shares of ENB. Triumph Capital Management purchased a new stake in shares of Enbridge in the third quarter valued at about $26,000. Arlington Trust Co LLC raised its holdings in Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock worth $27,000 after purchasing an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new stake in Enbridge in the third quarter valued at about $28,000. Inspire Investing LLC purchased a new stake in Enbridge in the 4th quarter valued at approximately $29,000. Finally, Garner Asset Management Corp purchased a new stake in Enbridge in the 4th quarter valued at approximately $30,000. 54.60% of the stock is owned by institutional investors and hedge funds.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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