Enbridge (NYSE:ENB) Stock Rating Raised to Hold at The Goldman Sachs Group

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by research analysts at The Goldman Sachs Group to a “hold” rating in a research report issued on Wednesday, Zacks reports.

Other equities analysts also recently issued reports about the company. TD Securities assumed coverage on Enbridge in a research report on Monday, September 14th. They issued a “buy” rating on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. BMO Capital Markets raised shares of Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 target price on the stock in a report on Monday, September 14th. Finally, US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average target price of $65.88.

Enbridge Trading Down 0.5%

Enbridge stock opened at $46.26 on Wednesday. The firm has a 50 day moving average of $50.43 and a 200 day moving average of $53.30. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $103.10 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 5.50 and a beta of 0.60. Enbridge has a 12-month low of $45.03 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The firm had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the firm earned $0.65 EPS. As a group, research analysts predict that Enbridge will post 2.11 earnings per share for the current year.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. raised its holdings in Enbridge by 11.8% during the 2nd quarter. QRG Capital Management Inc. now owns 28,118 shares of the pipeline company’s stock valued at $1,524,000 after buying an additional 2,978 shares during the period. Envestnet Asset Management Inc. boosted its stake in Enbridge by 0.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,844,716 shares of the pipeline company’s stock worth $208,427,000 after buying an additional 26,591 shares during the period. Wellington Altus USA Inc. boosted its stake in Enbridge by 10.2% during the second quarter. Wellington Altus USA Inc. now owns 14,768 shares of the pipeline company’s stock worth $848,000 after buying an additional 1,367 shares during the period. Smith Chas P & Associates PA Cpas increased its position in Enbridge by 11.2% during the second quarter. Smith Chas P & Associates PA Cpas now owns 5,289 shares of the pipeline company’s stock valued at $287,000 after acquiring an additional 532 shares during the last quarter. Finally, Core Capital Management & Research inc. bought a new position in Enbridge during the second quarter valued at $66,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.