Enbridge (NYSE:ENB) Rating Increased to Hold at Wall Street Zen

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

A number of other research firms also recently issued reports on ENB. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada boosted their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Price Performance

Shares of ENB traded up $0.05 during trading hours on Friday, reaching $54.64. The company had a trading volume of 2,330,853 shares, compared to its average volume of 3,703,008. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge has a 12-month low of $44.13 and a 12-month high of $58.45. The firm has a 50 day simple moving average of $55.48 and a 200-day simple moving average of $52.65. The company has a market capitalization of $119.34 billion, a price-to-earnings ratio of 25.65 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Research analysts expect that Enbridge will post 2.15 earnings per share for the current year.

Institutional Trading of Enbridge

A number of hedge funds have recently bought and sold shares of ENB. Exchange Traded Concepts LLC lifted its position in Enbridge by 3.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after acquiring an additional 41,601 shares in the last quarter. Viking Fund Management LLC raised its stake in shares of Enbridge by 35.2% during the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after purchasing an additional 61,500 shares during the period. Third View Private Wealth LLC purchased a new stake in shares of Enbridge during the fourth quarter valued at approximately $3,691,000. Swiss Life Asset Management Ltd lifted its position in shares of Enbridge by 19.2% during the third quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after purchasing an additional 44,524 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares in the last quarter. Institutional investors and hedge funds 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.