Enbridge (NYSE:ENB) Stock Rating Upgraded by Wall Street Zen

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other research analysts also recently issued research reports about the company. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Down 1.0%

ENB stock opened at $53.51 on Friday. The company has a 50 day moving average of $51.03 and a two-hundred day moving average of $49.02. The company has a market cap of $116.75 billion, a price-to-earnings ratio of 23.26 and a beta of 0.67. Enbridge has a 12-month low of $39.73 and a 12-month high of $54.70. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The business had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the previous year, the company posted $0.75 EPS. On average, equities analysts anticipate that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

Large investors have recently made changes to their positions in the stock. Purpose Unlimited Inc. acquired a new stake in Enbridge in the 4th quarter worth approximately $60,738,000. Rockefeller Capital Management L.P. grew its holdings in Enbridge by 1.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 316,403 shares of the pipeline company’s stock valued at $15,134,000 after purchasing an additional 5,993 shares during the last quarter. Fund Advisors of America Inc FL acquired a new position in Enbridge during the fourth quarter valued at approximately $258,000. World Investment Advisors raised its position in shares of Enbridge by 44.2% in the fourth quarter. World Investment Advisors now owns 36,411 shares of the pipeline company’s stock valued at $1,743,000 after purchasing an additional 11,164 shares during the period. Finally, Nalls Sherbakoff Group LLC bought a new position in shares of Enbridge in the fourth quarter valued at approximately $39,000. Institutional investors own 54.60% of the company’s stock.

About Enbridge

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.