Enbridge (NYSE:ENB) Trading Down 0.2% - Here's What Happened

Shares of Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB were down 0.2% on Monday . The company traded as low as $45.21 and last traded at $45.28. Approximately 612,336 shares were traded during trading, a decline of 85% from the average daily volume of 4,095,833 shares. The stock had previously closed at $45.37.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ENB shares. Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, 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 report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Price Performance

The business has a fifty day moving average of $43.15 and a two-hundred day moving average of $42.85. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market capitalization of $99.11 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of the business. Garde Capital Inc. acquired a new position in shares of Enbridge during the first quarter worth $26,000. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in shares of Enbridge during the 4th quarter worth about $29,000. Wintrust Investments LLC lifted its holdings in 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 acquiring an additional 238 shares during the period. Finally, GeoWealth Management LLC raised 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 purchasing an additional 611 shares during the period. Institutional investors 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.