Enbridge Inc. (NYSE:ENB) Receives Average Rating of “Moderate Buy” from Brokerages

Enbridge Inc. (NYSE:ENB) (TSE:ENB) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $67.00.

A number of research analysts recently issued reports on ENB shares. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENB. Norges Bank bought a new position in Enbridge in the fourth quarter valued at approximately $909,415,000. Arrowstreet Capital Limited Partnership lifted its stake in Enbridge by 396.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after buying an additional 9,621,425 shares in the last quarter. Blackstone Inc. lifted its stake in Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after buying an additional 4,956,379 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after buying an additional 4,502,115 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.7 %

Shares of NYSE:ENB opened at $42.86 on Monday. Enbridge has a one year low of $32.85 and a one year high of $45.78. The company has a 50 day moving average of $43.45 and a 200-day moving average of $42.23. 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 stock has a market cap of $93.38 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 3.92 and a beta of 0.95.

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

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.