Enbridge (NYSE:ENB) Trading Up 1.1% - Here's Why

Shares of Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB were up 1.1% during mid-day trading on Monday . The company traded as high as $43.99 and last traded at $43.73. Approximately 1,008,694 shares changed hands during trading, a decline of 77% from the average daily volume of 4,431,879 shares. The stock had previously closed at $43.24.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Performance

The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm's fifty day moving average price is $43.15 and its 200 day moving average price is $42.75. The firm has a market capitalization of $98.76 billion, a PE ratio of 26.35, a PEG ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. The firm 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 posted $0.64 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently bought and sold shares of ENB. Norges Bank bought a new stake in shares of Enbridge during the 4th quarter worth $909,415,000. Arrowstreet Capital Limited Partnership boosted its holdings in Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after acquiring an additional 9,621,425 shares during the period. Blackstone Inc. increased its stake in shares of Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock worth $242,619,000 after purchasing an additional 4,956,379 shares during the period. Deutsche Bank AG increased its position in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $180,941,000. 54.60% of the stock is currently owned by institutional investors.

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.