Enbridge Inc (NYSE:ENB) Sees Large Decrease in Short Interest
Enbridge Inc (NYSE:ENB) (TSE:ENB) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 13,770,000 shares, a decrease of 57.0% from the November 14th total of 32,050,000 shares. Based on an average trading volume of 3,180,000 shares, the short-interest ratio is presently 4.3 days. Approximately 0.7% of the shares of the company are short sold.
NYSE:ENB traded down $0.07 during mid-day trading on Thursday, hitting $38.58. The company’s stock had a trading volume of 451,522 shares, compared to its average volume of 3,126,560. Enbridge has a fifty-two week low of $28.82 and a fifty-two week high of $39.25. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $78.53 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 2.99 and a beta of 0.61. The stock has a fifty day moving average of $37.53 and a 200-day moving average of $35.63.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. Enbridge had a net margin of 12.07% and a return on equity of 8.31%. The firm had revenue of $8.79 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, equities analysts anticipate that Enbridge will post 2.03 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Bank of Nova Scotia Trust Co. increased its holdings in shares of Enbridge by 12.5% during the second quarter. Bank of Nova Scotia Trust Co. now owns 625,148 shares of the pipeline company’s stock worth $22,555,000 after buying an additional 69,399 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Enbridge by 3.7% in the third quarter. Synovus Financial Corp now owns 286,618 shares of the pipeline company’s stock valued at $10,068,000 after purchasing an additional 10,328 shares in the last quarter. Full Sail Capital LLC acquired a new stake in shares of Enbridge in the third quarter valued at approximately $237,000. National Pension Service acquired a new stake in shares of Enbridge in the second quarter valued at approximately $98,372,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Enbridge by 3.5% in the third quarter. Commonwealth Equity Services LLC now owns 435,376 shares of the pipeline company’s stock valued at $15,273,000 after purchasing an additional 14,542 shares in the last quarter. 53.75% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the stock. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Evercore ISI reiterated a “hold” rating and issued a $48.00 target price on shares of Enbridge in a research note on Tuesday, November 12th. UBS Group upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $54.00 in a research note on Monday, November 25th. Barclays cut shares of Enbridge from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $52.00 to $51.00 in a research note on Tuesday, October 15th. Finally, ValuEngine upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.88.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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