Enbridge (NYSE:ENB) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Enbridge (NYSE:ENB) (TSE:ENB) from a sell rating to a hold rating in a research note released on Saturday.

ENB has been the topic of several other research reports. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Trading Down 1.0%

ENB stock opened at $53.51 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The company has a market cap of $116.75 billion, a price-to-earnings ratio of 23.26 and a beta of 0.67. The business has a fifty day simple moving average of $51.03 and a 200-day simple moving average of $49.01. Enbridge has a 52 week low of $39.73 and a 52 week high of $54.70.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the firm earned $0.75 earnings per share. On average, equities research analysts expect that Enbridge will post 2.14 EPS for the current year.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in shares of Enbridge during the fourth quarter worth approximately $261,000. AQR Capital Management LLC raised its holdings in Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Enbridge in the second quarter valued at $481,000. Personal CFO Solutions LLC boosted its stake in Enbridge by 7.2% during the 2nd quarter. Personal CFO Solutions LLC now owns 11,064 shares of the pipeline company’s stock valued at $501,000 after acquiring an additional 742 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in Enbridge during the 2nd quarter valued at $2,512,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

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.