Enbridge (NYSE:ENB) Shares Up 0.9% – What’s Next?

Enbridge Inc. (NYSE:ENB) (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 changed 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.

Analyst Upgrades and Downgrades

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

Enbridge Trading Up 0.6 %

The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business’s fifty day moving average is $43.14 and its two-hundred day moving average is $42.69. The firm has a market cap of $96.54 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company 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 quarter in the previous year, the company posted $0.64 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enbridge

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

Enbridge Company Profile

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.