Brokerages Set Enbridge Inc (NYSE:ENB) PT at $65.00

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $65.00.

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

Enbridge Stock Performance

NYSE ENB opened at $52.70 on Tuesday. The company has a market cap of $115.06 billion, a P/E ratio of 22.91 and a beta of 0.63. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The stock has a 50-day moving average of $53.36 and a two-hundred day moving average of $49.69. Enbridge has a 1-year low of $43.59 and a 1-year high of $55.44.

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

Hedge Funds Weigh In On Enbridge

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tsfg LLC boosted its stake in shares of Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares during the period. Triumph Capital Management purchased a new position in shares of Enbridge in the 3rd quarter valued at about $26,000. Highline Wealth Partners LLC boosted its stake in shares of Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares during the period. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge in the 3rd quarter valued at about $28,000. Finally, Inspire Investing LLC purchased a new position in shares of Enbridge in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.