Royal Bank Of Canada Issues Positive Forecast for Enbridge (NYSE:ENB) Stock Price

Enbridge (NYSE:ENB) (TSE:ENB) had its target price upped by stock analysts at Royal Bank Of Canada from $72.00 to $76.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 48.40% from the company’s current price.

Other equities research analysts have also issued reports about the company. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. National Bank Financial restated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday. Finally, Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Down 4.9%

ENB stock traded down $2.67 during mid-day trading on Tuesday, hitting $51.21. 4,682,894 shares of the company were exchanged, compared to its average volume of 5,879,047. The firm has a fifty day simple moving average of $48.07 and a 200 day simple moving average of $48.06. The company has a market capitalization of $111.74 billion, a PE ratio of 22.21 and a beta of 0.69. Enbridge has a twelve month low of $39.73 and a twelve month high of $54.19. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a return on equity of 11.01% and a net margin of 11.30%.During the same period last year, the business posted $0.75 earnings per share. On average, research analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Private Advisor Group LLC grew its stake in shares of Enbridge by 5.3% in the fourth quarter. Private Advisor Group LLC now owns 137,861 shares of the pipeline company’s stock valued at $6,594,000 after acquiring an additional 6,936 shares in the last quarter. Lombard Odier Asset Management Switzerland SA grew its position in Enbridge by 35.8% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 80,394 shares of the pipeline company’s stock worth $3,847,000 after buying an additional 21,200 shares in the last quarter. State of Wisconsin Investment Board bought a new position in Enbridge during the 4th quarter worth $36,661,000. &PARTNERS raised its holdings in Enbridge by 10.6% in the 4th quarter. &PARTNERS now owns 321,085 shares of the pipeline company’s stock valued at $15,366,000 after acquiring an additional 30,899 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Enbridge by 3.5% during the 4th quarter. Blair William & Co. IL now owns 119,728 shares of the pipeline company’s stock valued at $5,727,000 after acquiring an additional 4,025 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

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.