Enbridge Inc (NYSE:ENB) (TSE:ENB) has received a consensus rating of “Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $51.00.
A number of brokerages recently issued reports on ENB. Wells Fargo & Co reiterated a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Scotia Howard Weill cut Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, March 4th. Zacks Investment Research cut Enbridge from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating on shares of Enbridge in a research note on Tuesday, March 5th. Finally, National Bank Financial raised Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Wednesday, March 20th.
In other Enbridge news, insider Allen C. Capps sold 6,514 shares of Enbridge stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total value of $241,148.28. Following the transaction, the insider now directly owns 3,437 shares of the company’s stock, valued at approximately $127,237.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Albert Monaco purchased 7,806 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of $49.33 per share, for a total transaction of $385,069.98. The disclosure for this purchase can be found here. 0.42% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Reilly Financial Advisors LLC lifted its holdings in shares of Enbridge by 16.0% during the 4th quarter. Reilly Financial Advisors LLC now owns 2,138 shares of the pipeline company’s stock valued at $66,000 after acquiring an additional 295 shares in the last quarter. Hanson McClain Inc. increased its position in shares of Enbridge by 41.9% during the 1st quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 297 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Enbridge by 58.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Mengis Capital Management Inc. increased its position in shares of Enbridge by 4.5% during the 1st quarter. Mengis Capital Management Inc. now owns 6,918 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 300 shares during the last quarter. Finally, Clarus Wealth Advisors increased its position in shares of Enbridge by 27.5% during the 1st quarter. Clarus Wealth Advisors now owns 1,476 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 318 shares during the last quarter. 56.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of Enbridge stock traded up $0.39 during trading on Thursday, reaching $37.06. The company’s stock had a trading volume of 51,037 shares, compared to its average volume of 3,535,107. The stock has a market cap of $73.77 billion, a PE ratio of 18.08, a PEG ratio of 2.51 and a beta of 0.69. Enbridge has a 52 week low of $28.82 and a 52 week high of $37.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.64.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. During the same quarter in the previous year, the business posted $0.82 earnings per share. Equities research analysts predict that Enbridge will post 1.71 earnings per share for the current fiscal year.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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