Enbridge (NYSE:ENB) Raised to “Hold” 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 note issued to investors on Saturday.

ENB has been the subject of a number of other research reports. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada raised their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Performance

Shares of ENB stock opened at $56.49 on Friday. The firm has a market capitalization of $123.35 billion, a price-to-earnings ratio of 26.52 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The business has a fifty day moving average of $54.83 and a 200 day moving average of $51.64. Enbridge has a 1 year low of $43.59 and a 1 year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the business posted $1.03 EPS. As a group, research analysts expect that Enbridge will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after buying an additional 2,067,516 shares during the last quarter. TD Asset Management Inc raised its position in shares of Enbridge by 0.3% in the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after acquiring an additional 137,897 shares during the period. Norges Bank purchased a new stake in shares of Enbridge during the 4th quarter worth about $1,195,559,000. Geode Capital Management LLC boosted its stake in shares of Enbridge by 7.1% during 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 acquiring an additional 1,415,995 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Enbridge by 4.6% during the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after acquiring an additional 858,323 shares in the last quarter. 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.