StockNews.com Begins Coverage on Enbridge (NYSE:ENB)

StockNews.com assumed coverage on shares of Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) in a report issued on Thursday. The brokerage issued a hold rating on the pipeline company’s stock.

Several other analysts have also recently weighed in on ENB. BMO Capital Markets cut Enbridge from an outperform rating to a market perform rating in a report on Tuesday, January 24th. Credit Suisse Group cut Enbridge from a neutral rating to an underperform rating in a report on Wednesday, February 8th. Finally, National Bank Financial boosted their price objective on Enbridge from C$54.00 to C$56.00 in a report on Friday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $59.00.

Enbridge Stock Performance

Enbridge stock opened at $36.56 on Thursday. The stock has a 50-day simple moving average of $39.64 and a 200 day simple moving average of $39.53. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.29. Enbridge has a 12-month low of $35.02 and a 12-month high of $47.67. The stock has a market capitalization of $74.03 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 2.72 and a beta of 0.83.

Institutional Trading of Enbridge

Institutional investors and hedge funds have recently modified their holdings of the stock. Coppell Advisory Solutions Corp. bought a new stake in shares of Enbridge in the 4th quarter valued at about $25,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at about $25,000. Pin Oak Investment Advisors Inc. increased its stake in shares of Enbridge by 434.8% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 615 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 500 shares during the last quarter. Burleson & Company LLC increased its stake in shares of Enbridge by 428.6% in the 3rd quarter. Burleson & Company LLC now owns 740 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 600 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Enbridge in the 3rd quarter valued at about $29,000. 49.25% of the stock is owned by institutional investors.

Enbridge Company Profile

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Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.