Enbridge (NYSE:ENB) Upgraded 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 published on Saturday.

Several other research analysts have also issued reports on ENB. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Price Performance

Shares of ENB opened at $54.19 on Friday. The company has a market cap of $118.24 billion, a price-to-earnings ratio of 23.56 and a beta of 0.67. Enbridge has a twelve month low of $39.73 and a twelve month high of $54.70. 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 50 day moving average of $51.19 and a two-hundred day moving average of $49.06.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. As a group, analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of ENB. MIdWestOne Financial Group Inc. boosted its position in shares of Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in Enbridge by 1.1% during the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 205 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in Enbridge by 4.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 208 shares during the period. Blue Fin Capital Inc. raised its stake in Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 213 shares during the period. Finally, Guinness Atkinson Asset Management Inc boosted its holdings in Enbridge by 3.4% in the 4th quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock valued at $309,000 after purchasing an additional 213 shares during the last quarter. 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.