Enbridge (NYSE:ENB) Trading 2.3% Higher - What's Next?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's share price rose 2.3% during trading on Thursday . The company traded as high as $45.30 and last traded at $45.59. Approximately 651,069 shares changed hands during trading, a decline of 85% from the average daily volume of 4,402,505 shares. The stock had previously closed at $44.57.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Finally, TD Securities assumed coverage on Enbridge in a research note 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 issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Price 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 company 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. The company's 50 day moving average price is $43.15 and its 200-day moving average price is $42.78.

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 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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in the business. Metis Global Partners LLC raised its holdings in Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock valued at $8,782,000 after acquiring an additional 7,986 shares in the last quarter. Aviso Financial Inc. raised its stake in shares of Enbridge by 4.3% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Enbridge by 70.7% during 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 last quarter. Vanguard Group Inc. grew 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 worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock valued at $26,808,000 after buying an additional 49,800 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other 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.