Enbridge (NYSE:ENB) Stock Price Up 1.4% - Here's Why

Shares of Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shot up 1.4% during mid-day trading on Tuesday . The company traded as high as $45.58 and last traded at $45.61. 474,156 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,347,092 shares. The stock had previously closed at $44.99.

Wall Street Analyst Weigh In

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

Enbridge Trading Down 0.5 %

The firm has a market cap of $100.56 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.92 and a beta of 0.80. The stock has a 50 day simple moving average of $43.27 and a 200-day simple moving average of $42.91. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share 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 company had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Institutional Trading of Enbridge

Several hedge funds have recently made changes to their positions in ENB. Metis Global Partners LLC raised its position in Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock valued at $8,782,000 after purchasing an additional 7,986 shares during the period. Aviso Financial Inc. increased its position in shares of Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock valued at $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock valued at $52,648,000 after buying an additional 536,818 shares during the period. Vanguard Group Inc. lifted its position in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after buying an additional 49,800 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.