Enbridge Inc. (NYSE:ENB) Sees Significant Decrease in Short Interest

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 20,490,000 shares, a decrease of 40.5% from the February 28th total of 34,450,000 shares. Approximately 0.9% of the company's shares are sold short. Based on an average daily volume of 3,910,000 shares, the short-interest ratio is presently 5.2 days.

Institutional Investors Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in Enbridge in the fourth quarter valued at about $29,000. Wintrust Investments LLC grew 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. GeoWealth Management LLC raised its stake in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

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Enbridge Stock Up 1.3 %

NYSE:ENB traded up $0.57 during trading hours on Wednesday, hitting $45.14. 2,232,826 shares of the company's stock traded hands, compared to its average volume of 4,390,513. The stock's fifty day moving average price is $43.48 and its two-hundred day moving average price is $42.57. The firm has a market cap of $98.37 billion, a P/E ratio of 26.24, a P/E/G 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 has a twelve month low of $32.86 and a twelve month high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the company earned $0.64 EPS. On average, research analysts expect that Enbridge will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ENB. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

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.