Enbridge (NYSE:ENB) Stock Price Down 0.2% – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was down 0.2% during mid-day trading on Monday . The stock traded as low as $45.21 and last traded at $45.28. Approximately 612,336 shares traded hands during trading, a decline of 85% from the average daily volume of 4,095,833 shares. The stock had previously closed at $45.37.

Analysts Set New Price Targets

Several brokerages recently weighed in on ENB. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company has a market cap of $97.32 billion, a PE ratio of 25.97, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a 50-day moving average price of $43.15 and a two-hundred day moving average price of $42.81.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the business earned $0.64 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently added to or reduced their stakes in ENB. apricus wealth LLC lifted its stake in shares of Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after buying an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. grew its position in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after buying an additional 230 shares in the last quarter. Wintrust Investments LLC grew its position in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its holdings in Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Company Profile

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.