Enbridge’s (ENB) Outperform Rating Reiterated at Royal Bank of Canada

Enbridge (NYSE:ENB) (TSE:ENB)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $67.00 price target on the pipeline company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 50.29% from the stock’s current price.

ENB has been the subject of a number of other research reports. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

ENB opened at $44.58 on Monday. Enbridge has a 12-month low of $34.60 and a 12-month high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $44.34 and its 200-day simple moving average is $43.36. The company has a market capitalization of $97.19 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the company earned $0.92 EPS. On average, equities research analysts anticipate that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently modified their holdings of ENB. Barclays PLC grew its stake in shares of Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock worth $23,717,000 after acquiring an additional 44,675 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after acquiring an additional 176,733 shares during the last quarter. Fiduciary Alliance LLC grew its stake in shares of Enbridge by 179.5% during the fourth quarter. Fiduciary Alliance LLC now owns 19,711 shares of the pipeline company’s stock worth $836,000 after acquiring an additional 12,659 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Enbridge by 7.7% during the fourth quarter. Brookstone Capital Management now owns 52,550 shares of the pipeline company’s stock worth $2,230,000 after acquiring an additional 3,759 shares during the last quarter. Finally, Thomasville National Bank grew its stake in shares of Enbridge by 2.2% during the fourth quarter. Thomasville National Bank now owns 811,601 shares of the pipeline company’s stock worth $34,436,000 after acquiring an additional 17,540 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.