Enbridge (NYSE:ENB) Trading Down 2% - What's Next?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB traded down 2% during trading on Wednesday . The company traded as low as $39.80 and last traded at $40.25. 1,080,501 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,426,639 shares. The stock had previously closed at $41.09.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of analyst reports. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada raised their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Citigroup assumed coverage on shares of Enbridge in a research note 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 data from MarketBeat.com, Enbridge currently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Price Performance

The stock has a market capitalization of $96.30 billion, a P/E ratio of 25.69, a PEG ratio of 3.92 and a beta of 0.80. 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 has a fifty day simple moving average of $43.14 and a 200-day simple moving average of $42.71.

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Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McIlrath & Eck LLC increased its holdings in shares of 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 in the last quarter. Albion Financial Group UT bought a new stake in Enbridge during the 4th quarter valued at $29,000. Wintrust Investments LLC raised 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 buying an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its stake 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 buying an additional 611 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of Enbridge during the fourth quarter valued at about $39,000. 54.60% of the stock is 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.