Enbridge (NYSE:ENB) Shares Up 1.7% – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares traded up 1.7% during trading on Friday . The company traded as high as $45.82 and last traded at $45.32. 4,781,000 shares changed hands during trading, an increase of 9% from the average session volume of 4,404,780 shares. The stock had previously closed at $44.57.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

The firm has a 50 day moving average price of $43.15 and a two-hundred day moving average price of $42.79. The company has a market cap of $98.76 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its 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 analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently bought and sold shares of the business. McIlrath & Eck LLC grew its position in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT bought a new position in Enbridge in the 4th quarter worth about $29,000. Wintrust Investments LLC grew its holdings in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares in the last quarter. GeoWealth Management LLC increased its position in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after buying an additional 611 shares during the period. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Enbridge in the fourth quarter worth about $39,000. 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.