Enbridge Inc (NYSE:ENB) Receives $65.00 Average Target Price from Analysts

Shares of Enbridge Inc (NYSE:ENBGet Free Report) (TSE:ENB) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $65.00.

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th.

Check Out Our Latest Report on Enbridge

Hedge Funds Weigh In On Enbridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Vanguard Group Inc. boosted its position in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. TD Asset Management Inc raised its holdings in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after buying an additional 137,897 shares during the period. Norges Bank purchased a new stake in Enbridge during the fourth quarter valued at about $1,195,559,000. Geode Capital Management LLC lifted its stake in Enbridge by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after buying an additional 1,415,995 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Enbridge by 4.6% in the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after buying an additional 858,323 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge News Summary

Here are the key news stories impacting Enbridge this week:

Enbridge Trading Up 0.4%

Shares of ENB opened at $54.40 on Friday. The stock has a fifty day moving average of $51.35 and a two-hundred day moving average of $49.10. Enbridge has a fifty-two week low of $39.73 and a fifty-two week high of $55.11. The company has a market capitalization of $118.68 billion, a PE ratio of 23.65 and a beta of 0.67. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the company posted $0.75 EPS. As a group, analysts forecast that Enbridge will post 2.14 EPS for the current year.

About Enbridge

(Get Free Report)

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.

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Analyst Recommendations for Enbridge (NYSE:ENB)

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