Enbridge (NYSE:ENB) Upgraded at Raymond James Financial

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by investment analysts at Raymond James Financial to a “moderate buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently commented on ENB. Royal Bank Of Canada raised their price objective on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Price Performance

NYSE:ENB opened at $51.46 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. Enbridge has a one year low of $39.73 and a one year high of $54.19. The company has a fifty day moving average price of $48.15 and a 200 day moving average price of $48.09. The stock has a market cap of $112.28 billion, a P/E ratio of 22.37 and a beta of 0.69.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.01%. The company had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. Analysts anticipate that Enbridge will post 2.14 earnings per share for the current year.

Institutional Trading of Enbridge

Several large investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. increased its holdings in shares of Enbridge by 83.1% during the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock worth $104,284,000 after purchasing an additional 1,044,093 shares during the period. Envestnet Asset Management Inc. grew its position in Enbridge by 0.8% during the second quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after buying an additional 32,268 shares in the last quarter. Jones Financial Companies Lllp grew its position in Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after buying an additional 221,976 shares in the last quarter. Principal Financial Group Inc. increased its stake in Enbridge by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after acquiring an additional 24,165 shares during the period. Finally, Aviva PLC raised its holdings in Enbridge by 6.7% in the 2nd quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock valued at $80,959,000 after acquiring an additional 112,305 shares in the last quarter. 54.60% of the stock is owned by 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.