Enbridge Inc (ENB) Stock Rating Reaffirmed by Morgan Stanley
Enbridge Inc (NYSE:ENB) (TSE:ENB)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a report released on Friday. They currently have a $44.00 price target on the pipeline company’s stock, down from their previous price target of $45.00. Morgan Stanley’s target price points to a potential upside of 7.71% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Wells Fargo & Company reissued a “market perform” rating on shares of Enbridge in a research report on Friday, March 31st. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Wolfe Research initiated coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.00.
Shares of Enbridge (NYSE ENB) traded up 1.84% on Friday, hitting $40.85. 1,779,612 shares of the stock traded hands. The firm’s 50-day moving average is $39.09 and its 200 day moving average is $41.37. The firm has a market cap of $66.95 billion, a P/E ratio of 44.16 and a beta of 0.61. Enbridge has a 12-month low of $37.37 and a 12-month high of $45.77.
Several large investors have recently modified their holdings of ENB. Goelzer Investment Management Inc. bought a new stake in shares of Enbridge during the first quarter worth $4,602,000. Meyer Handelman Co. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $7,364,000. M. Kraus & Co acquired a new stake in shares of Enbridge during the first quarter valued at approximately $5,227,000. Brookfield Asset Management Inc. boosted its stake in shares of Enbridge by 24,914.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,752,212 shares of the pipeline company’s stock valued at $157,726,000 after buying an additional 3,737,212 shares during the period. Finally, Tdam USA Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $970,000. Institutional investors and hedge funds own 62.99% of the company’s stock.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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