Enbridge (NYSE:ENB) Stock Price Up 0.8% - What's Next?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shares were up 0.8% during trading on Thursday . The company traded as high as $46.08 and last traded at $45.99. Approximately 505,804 shares changed hands during trading, a decline of 88% from the average daily volume of 4,092,137 shares. The stock had previously closed at $45.61.

Analyst Ratings Changes

Several research firms recently issued reports on ENB. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. CIBC reiterated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market cap of $100.49 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company has a 50 day simple moving average of $43.20 and a 200-day simple moving average of $42.87.

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, topping analysts' consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. GQG Partners LLC lifted its position in Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the period. Deutsche Bank AG grew its holdings in shares of Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Enbridge in the fourth quarter worth $909,415,000. 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.

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