Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, October 15th, MarketBeat.com reports. They currently have a $51.00 target price on the pipeline company’s stock, down from their previous target price of $52.00. Barclays‘s target price indicates a potential upside of 36.11% from the stock’s previous close.
A number of other brokerages have also issued reports on ENB. ValuEngine lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Goldman Sachs Group initiated coverage on shares of Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating on the stock. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Bank of America downgraded shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average price target of $45.68.
ENB stock traded up $0.74 during trading on Tuesday, reaching $37.47. The stock had a trading volume of 5,499,096 shares, compared to its average volume of 3,344,608. Enbridge has a 1-year low of $28.82 and a 1-year high of $38.04. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $74.72 billion, a P/E ratio of 18.28, a PEG ratio of 2.80 and a beta of 0.58. The firm has a fifty day moving average price of $35.89 and a 200 day moving average price of $35.48.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $11.65 billion. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. During the same quarter in the prior year, the business posted $0.55 EPS. Sell-side analysts predict that Enbridge will post 2.06 EPS for the current year.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Enbridge by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock valued at $2,214,876,000 after buying an additional 1,200,391 shares during the period. Great West Life Assurance Co. Can increased its stake in Enbridge by 6.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock valued at $468,753,000 after buying an additional 833,190 shares during the period. Bank of Nova Scotia increased its stake in Enbridge by 0.8% in the 2nd quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock valued at $448,587,000 after buying an additional 103,842 shares during the period. Salient Capital Advisors LLC increased its stake in Enbridge by 5.2% in the 2nd quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock valued at $382,165,000 after buying an additional 519,679 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Enbridge by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,917,054 shares of the pipeline company’s stock valued at $312,810,000 after buying an additional 321,281 shares during the period. Institutional investors and hedge funds own 54.21% of the company’s stock.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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