Enbridge Inc. (NYSE:ENB) has been given an average recommendation of “Buy” by the fifteen ratings firms that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $57.33.
ENB has been the subject of several recent research reports. Goldman Sachs Group Inc. upgraded Enbridge from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $48.00 in a research note on Wednesday, September 7th. TD Securities restated a “buy” rating and set a $59.00 target price (up from $58.00) on shares of Enbridge in a research note on Wednesday, August 3rd. Canaccord Genuity restated a “buy” rating on shares of Enbridge in a research note on Sunday, September 4th. Zacks Investment Research cut Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Bank of America Corp. assumed coverage on Enbridge in a research note on Thursday, September 1st. They set a “neutral” rating and a $56.00 target price for the company.
Enbridge (NYSE:ENB) traded down 0.14% on Friday, hitting $44.01. The stock had a trading volume of 922,550 shares. Enbridge has a 12-month low of $27.43 and a 12-month high of $45.77. The company has a 50 day moving average of $43.02 and a 200 day moving average of $41.38. The company has a market capitalization of $41.12 billion, a PE ratio of 40.12 and a beta of 0.64.
Enbridge (NYSE:ENB) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.03. Enbridge had a net margin of 4.29% and a return on equity of 12.96%. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, equities analysts expect that Enbridge will post $1.77 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new stake in shares of Enbridge during the second quarter worth approximately $108,000. MSI Financial Services Inc boosted its stake in shares of Enbridge by 10.6% in the third quarter. MSI Financial Services Inc now owns 3,638 shares of the company’s stock worth $161,000 after buying an additional 348 shares during the period. Zions Bancorporation boosted its stake in shares of Enbridge by 508.9% in the first quarter. Zions Bancorporation now owns 4,311 shares of the company’s stock worth $170,000 after buying an additional 3,603 shares during the period. Thompson Davis & CO. Inc. boosted its stake in shares of Enbridge by 1,054.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,617 shares of the company’s stock worth $196,000 after buying an additional 4,217 shares during the period. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in shares of Enbridge during the second quarter worth approximately $214,000. Institutional investors and hedge funds own 66.77% of the company’s stock.
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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