Enbridge (NYSE:ENB) Rating Increased to Hold at Wall Street Zen

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities analysts also recently issued reports about the company. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Zacks Research upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Stock Performance

Shares of ENB stock opened at $49.11 on Friday. Enbridge has a 12 month low of $39.73 and a 12 month high of $49.11. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company’s fifty day moving average price is $46.65 and its 200-day moving average price is $45.36. The stock has a market cap of $107.10 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 4.46 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same period last year, the company earned $0.58 earnings per share. On average, equities analysts expect that Enbridge will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Large investors have recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Enbridge in the 4th quarter worth approximately $261,000. Quantinno Capital Management LP boosted its stake in Enbridge by 56.5% in the 4th quarter. Quantinno Capital Management LP now owns 55,733 shares of the pipeline company’s stock worth $2,365,000 after purchasing an additional 20,123 shares during the period. Strive Asset Management LLC bought a new position in Enbridge in the 4th quarter worth approximately $456,000. State of Wyoming boosted its stake in Enbridge by 126.3% in the 4th quarter. State of Wyoming now owns 6,880 shares of the pipeline company’s stock worth $292,000 after purchasing an additional 3,840 shares during the period. Finally, Texas Bank & Trust Co bought a new position in Enbridge in the 4th quarter worth approximately $225,000. 54.60% of the stock is currently owned by institutional investors.

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.