Enbridge (NYSE:ENB) Coverage Initiated at Citigroup

Citigroup began coverage on shares of Enbridge (NYSE:ENB - Free Report) TSE: ENB in a research note published on Friday, MarketBeat reports. The firm issued a buy rating on the pipeline company's stock.

Several other brokerages also recently issued reports on ENB. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, TD Securities began coverage on 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. Based on data from MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Down 1.3 %

NYSE ENB traded down $0.53 during trading hours on Friday, hitting $41.42. 2,041,820 shares of the company traded hands, compared to its average volume of 4,422,609. The stock has a market capitalization of $90.25 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 3.92 and a beta of 0.80. Enbridge has a twelve month low of $32.86 and a twelve month high of $46.12. The business's 50-day moving average is $43.40 and its 200-day moving average is $42.65. 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 - Get Free Report) TSE: ENB last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the business earned $0.64 earnings per share. Sell-side analysts anticipate that Enbridge will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently made changes to their positions in ENB. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares in the last quarter. GeoWealth Management LLC boosted its position in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in shares of Enbridge in the fourth quarter valued at about $39,000. 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.