Enbridge (NYSE:ENB) Upgraded at Wall Street Zen

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Performance

NYSE:ENB opened at $53.51 on Friday. The firm has a market capitalization of $116.75 billion, a PE ratio of 23.26 and a beta of 0.67. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge has a 12-month low of $39.73 and a 12-month high of $54.70. The firm has a 50-day moving average price of $51.03 and a 200 day moving average price of $49.01.

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

Institutional Investors Weigh In On Enbridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENB. 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. TD Asset Management Inc grew its stake in shares of Enbridge by 0.3% during the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after purchasing an additional 137,897 shares during the last quarter. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $1,195,559,000. Geode Capital Management LLC raised its position in Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after purchasing an additional 1,415,995 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Enbridge by 4.6% in the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after purchasing an additional 858,323 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

About Enbridge

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.