Enbridge Inc (ENB) Receives $51.00 Average Price Target from Brokerages

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have received an average rating of “Buy” from the eighteen analysts that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.00.

Several brokerages have commented on ENB. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, February 5th. ValuEngine lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Scotiabank lowered Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. Evercore ISI began coverage on Enbridge in a research note on Tuesday, February 5th. They set an “outperform” rating for the company. Finally, Macquarie initiated coverage on Enbridge in a research note on Thursday, January 24th. They set an “outperform” rating for the company.

Enbridge stock traded up $0.22 during trading on Thursday, hitting $37.57. The company’s stock had a trading volume of 4,485,424 shares, compared to its average volume of 3,516,129. The firm has a market capitalization of $76.03 billion, a P/E ratio of 18.33, a PEG ratio of 2.40 and a beta of 0.69. Enbridge has a 1-year low of $28.82 and a 1-year high of $37.96. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The company had revenue of $9.67 billion during the quarter, compared to analyst estimates of $12.96 billion. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, equities analysts predict that Enbridge will post 1.85 EPS for the current year.

In other news, insider William T. Yardley sold 14,900 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the sale, the insider now owns 94,770 shares in the company, valued at $3,504,594.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cynthia L. Hansen bought 799 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $49.13 per share, with a total value of $39,254.87. Following the purchase, the insider now owns 105,423 shares of the company’s stock, valued at approximately $5,179,431.99. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in Enbridge by 2.5% in the third quarter. Vanguard Group Inc now owns 48,626,327 shares of the pipeline company’s stock valued at $1,570,144,000 after purchasing an additional 1,184,467 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Enbridge by 3.7% in the first quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock valued at $1,688,151,000 after purchasing an additional 1,648,741 shares during the last quarter. Jarislowsky Fraser Ltd boosted its holdings in Enbridge by 0.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 24,607,599 shares of the pipeline company’s stock valued at $764,101,000 after purchasing an additional 131,550 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Enbridge by 4.1% in the first quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock valued at $820,833,000 after purchasing an additional 895,305 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Enbridge by 13.6% in the fourth quarter. Mackenzie Financial Corp now owns 21,632,644 shares of the pipeline company’s stock valued at $672,343,000 after purchasing an additional 2,584,814 shares during the last quarter. Institutional investors and hedge funds own 56.95% of the company’s stock.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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