Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, February 4th.
ENB has been the subject of a number of other research reports. Macquarie started coverage on Enbridge in a report on Thursday, January 24th. They set an “outperform” rating for the company. CIBC reaffirmed a “buy” rating and set a $57.00 target price on shares of Enbridge in a report on Tuesday, January 15th. Wolfe Research raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, January 7th. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a report on Monday, December 31st. Finally, Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Enbridge currently has an average rating of “Buy” and a consensus target price of $48.60.
NYSE ENB traded up $0.26 during trading on Monday, hitting $37.25. The company’s stock had a trading volume of 3,596,134 shares, compared to its average volume of 3,450,219. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.58. The company has a market cap of $75.33 billion, a PE ratio of 18.17, a P/E/G ratio of 2.31 and a beta of 0.69. Enbridge has a fifty-two week low of $28.82 and a fifty-two week high of $37.69.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 15th. The pipeline company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.04. The business had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $12.27 billion. Enbridge had a return on equity of 8.72% and a net margin of 5.64%. During the same quarter last year, the company earned $0.61 earnings per share. On average, sell-side analysts predict that Enbridge will post 1.73 earnings per share for the current fiscal year.
In related news, insider Albert Monaco purchased 7,569 shares of Enbridge stock in a transaction that occurred on Tuesday, December 4th. The stock was bought at an average cost of $43.82 per share, for a total transaction of $331,673.58. Following the completion of the transaction, the insider now owns 67,329 shares in the company, valued at $2,950,356.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Allen C. Capps sold 6,514 shares of Enbridge stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $37.02, for a total value of $241,148.28. Following the transaction, the insider now owns 3,437 shares of the company’s stock, valued at $127,237.74. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Schroder Investment Management Group purchased a new stake in shares of Enbridge in the second quarter valued at approximately $527,000. Atria Investments LLC increased its position in shares of Enbridge by 42.2% in the third quarter. Atria Investments LLC now owns 30,917 shares of the pipeline company’s stock valued at $998,000 after buying an additional 9,176 shares in the last quarter. Kovack Advisors Inc. increased its position in shares of Enbridge by 19.4% in the third quarter. Kovack Advisors Inc. now owns 12,118 shares of the pipeline company’s stock valued at $391,000 after buying an additional 1,966 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX increased its position in shares of Enbridge by 7.9% in the third quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 49,762 shares of the pipeline company’s stock valued at $1,607,000 after buying an additional 3,650 shares in the last quarter. Finally, Manning & Napier Group LLC purchased a new stake in shares of Enbridge in the third quarter valued at approximately $336,000. Institutional investors own 51.52% of the company’s stock.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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