Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by equities researchers at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research report issued on Monday, The Fly reports.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Monday, October 8th. UBS Group assumed coverage on Enbridge in a research note on Thursday, October 4th. They issued a “buy” rating on the stock. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Citigroup reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, September 24th. Finally, Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $50.00 in a research note on Friday, August 17th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Enbridge currently has a consensus rating of “Buy” and a consensus price target of $49.17.
Shares of ENB opened at $32.32 on Monday. Enbridge has a 12-month low of $29.00 and a 12-month high of $41.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.47 and a current ratio of 0.56. The stock has a market cap of $54.18 billion, a P/E ratio of 20.99, a PEG ratio of 1.19 and a beta of 0.53.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Enbridge had a return on equity of 8.80% and a net margin of 3.95%. The firm had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same period in the previous year, the company posted $0.39 earnings per share. Analysts anticipate that Enbridge will post 2.22 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in ENB. Toronto Dominion Bank boosted its holdings in shares of Enbridge by 123.0% in the 2nd quarter. Toronto Dominion Bank now owns 9,644,840 shares of the pipeline company’s stock worth $347,031,000 after acquiring an additional 5,319,398 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Enbridge by 165.9% in the 2nd quarter. Fiera Capital Corp now owns 5,405,278 shares of the pipeline company’s stock worth $193,266,000 after acquiring an additional 3,372,119 shares in the last quarter. Addenda Capital Inc. acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $100,454,000. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Enbridge by 23.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,757,583 shares of the pipeline company’s stock worth $241,178,000 after acquiring an additional 1,291,797 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV boosted its holdings in shares of Enbridge by 84,382.1% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 1,086,440 shares of the pipeline company’s stock worth $30,675,000 after acquiring an additional 1,085,154 shares in the last quarter. 58.28% of the stock is currently owned by institutional investors and hedge funds.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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