Enbridge (NYSE:ENB) Stock Price Down 0.2% – Here’s Why

by · The Markets Daily

Enbridge Inc. (NYSE:ENB – Get Free Report) (TSE:ENB)’s stock price fell 0.2% during trading on Monday . The company traded as low as $45.21 and last traded at $45.28. 612,336 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 4,095,833 shares. The stock had previously closed at $45.37.

Wall Street Analysts Forecast Growth

ENB has been the topic of several research reports. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Check Out Our Latest Stock Report on ENB

Enbridge Price Performance

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 company has a fifty day moving average price of $43.15 and a 200 day moving average price of $42.81. The company has a market capitalization of $97.32 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 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 earned $0.64 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Enbridge during the fourth quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after acquiring an additional 9,621,425 shares during the period. Blackstone Inc. increased its stake in shares of Enbridge by 650.7% during the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after acquiring an additional 4,956,379 shares during the period. Deutsche Bank AG lifted its position in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Enbridge during the 4th quarter valued at $180,941,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Company Profile

(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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