Brokerages Set Enbridge Inc. (NYSE:ENB) Target Price at $55.20

Enbridge Inc. (NYSE:ENB) (TSE:ENB) has been given an average rating of “Hold” by the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $55.20.

Several research analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group started coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company.

Institutional Trading of Enbridge

Several hedge funds have recently added to or reduced their stakes in ENB. Vanguard Group Inc. boosted its position in shares of Enbridge by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock valued at $2,991,585,000 after acquiring an additional 1,561,598 shares during the period. TD Asset Management Inc boosted its holdings in Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after purchasing an additional 7,536,678 shares during the period. 1832 Asset Management L.P. boosted its holdings in Enbridge by 2.5% in the 4th quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company’s stock valued at $1,271,115,000 after purchasing an additional 846,796 shares during the period. Canoe Financial LP boosted its holdings in Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after buying an additional 28,076,386 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.2 %

NYSE:ENB opened at $35.42 on Friday. The business’s fifty day moving average price is $35.07 and its 200 day moving average price is $34.76. The firm has a market capitalization of $75.30 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 3.26 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. Enbridge has a 1-year low of $31.03 and a 1-year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. On average, sell-side analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

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.