Enbridge (NYSE:ENB) Price Target Raised to $72.00

Enbridge (NYSE:ENB) (TSE:ENB) had its target price upped by equities research analysts at Royal Bank Of Canada from $67.00 to $72.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 49.89% from the stock’s current price.

Several other research firms have also recently weighed in on ENB. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Argus upped their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Finally, Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Enbridge Stock Performance

NYSE:ENB traded up $0.33 during mid-day trading on Monday, reaching $48.04. The company’s stock had a trading volume of 770,423 shares, compared to its average volume of 3,847,423. The firm’s fifty day moving average price is $48.28 and its two-hundred day moving average price is $46.77. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a market cap of $104.77 billion, a P/E ratio of 23.66, a PEG ratio of 4.31 and a beta of 0.76. Enbridge has a 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENB. IHT Wealth Management LLC boosted its stake in Enbridge by 1.2% in the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the period. HBK Sorce Advisory LLC grew its stake in Enbridge by 1.8% during the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after acquiring an additional 215 shares in the last quarter. Copperleaf Capital LLC increased its holdings in Enbridge by 3.6% in the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 217 shares during the last quarter. South Plains Financial Inc. lifted its stake in Enbridge by 13.2% in the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after purchasing an additional 221 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

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.