Enbridge (NYSE:ENB) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage issued a buy rating on the pipeline company’s stock.

ENB has been the topic of a number of other research reports. Royal Bank of Canada boosted their target price 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 reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Down 4.4 %

ENB stock opened at $43.34 on Friday. The stock has a fifty day moving average of $43.45 and a 200-day moving average of $42.61. Enbridge has a fifty-two week low of $32.86 and a fifty-two week high of $46.12. The company has a market capitalization of $94.44 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

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

Institutional Investors Weigh In On Enbridge

Institutional investors and hedge funds have recently made changes to their positions in the business. apricus wealth LLC increased its stake in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 230 shares during the last quarter. Wintrust Investments LLC raised its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC lifted its position in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.