Enbridge (NYSE:ENB) Stock Price Down 0.4% - Here's What Happened

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price fell 0.4% during mid-day trading on Wednesday . The stock traded as low as $45.35 and last traded at $45.48. 773,312 shares were traded during trading, a decline of 82% from the average session volume of 4,316,366 shares. The stock had previously closed at $45.64.

Wall Street Analysts Forecast Growth

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

Enbridge Trading Down 0.7 %

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 business's 50 day moving average price is $43.27 and its 200-day moving average price is $42.91. The company has a market cap of $100.32 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 3.92 and a beta of 0.80.

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

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently made changes to their positions in ENB. Garde Capital Inc. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $26,000. McIlrath & Eck LLC increased its position in Enbridge by 74.9% in the third 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 period. Albion Financial Group UT bought a new position in shares of Enbridge in the 4th quarter valued at about $29,000. Wintrust Investments LLC lifted its holdings 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 buying an additional 238 shares during the period. Finally, GeoWealth Management LLC grew its holdings in 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 acquiring an additional 611 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.

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