Enbridge Inc. (NYSE:ENB) Sees Large Drop in Short Interest

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 20,490,000 shares, a drop of 40.5% from the February 28th total of 34,450,000 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily volume of 3,910,000 shares, the days-to-cover ratio is currently 5.2 days.

Analysts Set New Price Targets

A number of analysts have recently commented on ENB shares. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Enbridge by 4.1% during 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 buying an additional 3,611,421 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the period. TD Asset Management Inc. increased its holdings in shares of Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the period. Deutsche Bank AG boosted its holdings in shares of Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Norges Bank purchased a new position in Enbridge during the fourth quarter valued at approximately $909,415,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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Enbridge Trading Up 0.6 %

Shares of Enbridge stock traded up $0.27 on Tuesday, reaching $44.58. 2,389,094 shares of the company were exchanged, compared to its average volume of 4,399,273. Enbridge has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The firm has a market capitalization of $97.15 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 stock has a fifty day moving average price of $43.49 and a 200-day moving average price of $42.53.

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

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.