Enbridge Inc (NYSE:ENB) Receives $60.50 Average Price Target from Brokerages

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $60.50.

A number of research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in Enbridge in the fourth quarter worth $261,000. QRG Capital Management Inc. grew its position in Enbridge by 21.1% in the first quarter. QRG Capital Management Inc. now owns 9,118 shares of the pipeline company’s stock worth $404,000 after acquiring an additional 1,590 shares in the last quarter. Avior Wealth Management LLC grew its position in Enbridge by 51.1% in the first quarter. Avior Wealth Management LLC now owns 8,777 shares of the pipeline company’s stock worth $389,000 after acquiring an additional 2,970 shares in the last quarter. Garde Capital Inc. purchased a new position in Enbridge in the first quarter worth $26,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in Enbridge by 3.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 371,982 shares of the pipeline company’s stock worth $16,475,000 after acquiring an additional 10,807 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.8%

Shares of ENB stock opened at $47.27 on Tuesday. The company’s fifty day simple moving average is $48.45 and its two-hundred day simple moving average is $46.60. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge has a 1 year low of $39.73 and a 1 year high of $50.54. The stock has a market capitalization of $103.08 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 4.32 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, analysts anticipate that Enbridge will post 2.14 earnings per share for the current 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.