Enbridge (NYSE:ENB) Trading 1.7% Higher - Still a Buy?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shot up 1.7% during trading on Friday . The stock traded as high as $45.82 and last traded at $45.32. 4,781,000 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 4,404,780 shares. The stock had previously closed at $44.57.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada boosted their target price on 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 research note on Friday, April 4th. They set a "buy" rating on the stock. Finally, TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The company has a market cap of $98.76 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a 50 day moving average price of $43.15 and a 200-day moving average price of $42.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data 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. The company had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Large investors have recently modified their holdings of the company. Metis Global Partners LLC grew its stake in Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after purchasing an additional 7,986 shares during the period. Aviso Financial Inc. lifted 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 acquiring an additional 58,176 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after purchasing an additional 536,818 shares during the period. Vanguard Group Inc. increased its stake in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock valued at $26,808,000 after purchasing an additional 49,800 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.