Enbridge Inc (ENB) Receives Consensus Rating of “Buy” from Brokerages

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given a consensus rating of “Buy” by the ten brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $49.17.

Several analysts have commented on the company. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, October 8th. UBS Group assumed coverage on Enbridge in a research note on Thursday, October 4th. They set a “buy” rating on the stock. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Citigroup reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, September 24th. Finally, Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $50.00 in a research note on Friday, August 17th.

Shares of Enbridge stock traded down $0.25 during midday trading on Friday, hitting $31.42. The company had a trading volume of 4,472,507 shares, compared to its average volume of 3,920,636. The company has a quick ratio of 0.47, a current ratio of 0.56 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $54.18 billion, a P/E ratio of 20.40, a PEG ratio of 1.20 and a beta of 0.53. Enbridge has a 52-week low of $29.00 and a 52-week high of $41.21.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Enbridge had a return on equity of 8.47% and a net margin of 5.99%. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter in the prior year, the business posted $0.39 EPS. As a group, equities analysts expect that Enbridge will post 2.22 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Accurate Investment Solutions Inc. purchased a new stake in Enbridge during the 2nd quarter valued at $106,000. Welch Group LLC bought a new position in shares of Enbridge during the 2nd quarter valued at $109,000. Legacy Advisors LLC bought a new position in shares of Enbridge during the 3rd quarter valued at $115,000. Spectrum Management Group Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at $119,000. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Enbridge by 93.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock valued at $129,000 after buying an additional 1,740 shares during the period. Institutional investors and hedge funds own 58.35% of the company’s stock.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in 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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Analyst Recommendations for Enbridge (NYSE:ENB)

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