Enbridge Inc (NYSE:ENB) Receives $65.00 Average Price Target from Analysts

Enbridge Inc (NYSE:ENB) (TSE:ENB) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $65.00.

A number of research firms have commented on ENB. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Finally, Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th.

Institutional Trading of Enbridge

Institutional investors have recently bought and sold shares of the company. Tsfg LLC boosted its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of Enbridge in the third quarter valued at $26,000. Highline Wealth Partners LLC lifted its position in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge in the third quarter valued at $28,000. Finally, Inspire Investing LLC purchased a new stake in shares of Enbridge in the fourth quarter valued at $29,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.8%

Shares of ENB stock opened at $52.25 on Tuesday. The business’s fifty day moving average price is $53.39 and its 200 day moving average price is $49.71. Enbridge has a 1-year low of $43.59 and a 1-year high of $55.44. The firm has a market capitalization of $114.08 billion, a PE ratio of 22.72 and a beta of 0.63. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, sell-side analysts forecast that Enbridge will post 2.24 EPS for the current fiscal year.

Enbridge Company Profile

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.