Enbridge (NYSE:ENB) Trading 0.9% Higher – Here’s What Happened

by · The Cerbat Gem

Enbridge Inc. (NYSE:ENB – Get Free Report) (TSE:ENB) shares were up 0.9% on Tuesday . The stock traded as high as $44.57 and last traded at $44.40. Approximately 802,342 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 4,427,579 shares. The stock had previously closed at $44.02.

Wall Street Analyst Weigh In

ENB has been the subject of several research analyst reports. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup initiated coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada boosted their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Get Our Latest Stock Analysis on ENB

Enbridge Stock Performance

The stock has a fifty day moving average of $43.14 and a 200-day moving average of $42.69. The firm has a market capitalization of $96.54 billion, a P/E ratio of 25.76, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The company 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 period last year, the business earned $0.64 EPS. On average, research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Enbridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter valued at $29,000. Wintrust Investments LLC grew its position in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC raised its stake in Enbridge by 436.4% in the fourth 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. Finally, Capital A Wealth Management LLC bought a new position in shares of Enbridge during the 4th quarter worth approximately $39,000. 54.60% of the stock is owned by institutional investors.

About Enbridge

(Get Free Report)

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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