Enbridge (NYSE:ENB) Stock Price Up 1.7% – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares shot up 1.7% during mid-day trading on Friday . The company traded as high as $45.82 and last traded at $45.32. 4,781,000 shares changed hands during trading, an increase of 9% from the average session volume of 4,404,780 shares. The stock had previously closed at $44.57.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ENB. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Stock Up 1.7 %

The company has a market cap of $98.76 billion, a PE ratio of 26.35, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $43.15 and a 200-day simple moving average of $42.75.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the business earned $0.64 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Institutional Trading of Enbridge

A number of hedge funds have recently bought and sold shares of the business. Metis Global Partners LLC grew its holdings in Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after buying an additional 7,986 shares in the last quarter. Aviso Financial Inc. boosted its stake in shares of Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after purchasing an additional 58,176 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.