Enbridge (NYSE:ENB) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the pipeline company’s stock.

A number of other equities research analysts have also recently issued reports on ENB. National Bank Financial upped their target price on Enbridge from C$54.00 to C$56.00 in a research report on Friday, January 27th. Credit Suisse Group raised Enbridge from an “underperform” rating to a “neutral” rating in a research report on Wednesday, March 29th. Finally, BMO Capital Markets cut Enbridge from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 24th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and an average target price of $57.50.

Enbridge Stock Up 0.5 %

NYSE ENB traded up $0.20 on Thursday, hitting $37.25. 274,909 shares of the stock were exchanged, compared to its average volume of 3,427,553. The company has a 50-day moving average price of $38.57 and a 200-day moving average price of $39.43. Enbridge has a fifty-two week low of $35.02 and a fifty-two week high of $47.67. The company has a market cap of $75.43 billion, a PE ratio of 41.80, a PEG ratio of 2.79 and a beta of 0.83. The company has a quick ratio of 0.51, a current ratio of 0.59 and a debt-to-equity ratio of 1.23.

Hedge Funds Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENB. Vanguard Group Inc. grew its holdings in Enbridge by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 73,349,925 shares of the pipeline company’s stock valued at $2,721,283,000 after purchasing an additional 2,489,930 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Enbridge by 109,143.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after acquiring an additional 48,423,715 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Enbridge by 2.6% during the third quarter. TD Asset Management Inc. now owns 29,260,303 shares of the pipeline company’s stock valued at $1,102,609,000 after acquiring an additional 733,921 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Enbridge by 12.2% in the first quarter. 1832 Asset Management L.P. now owns 27,381,482 shares of the pipeline company’s stock valued at $1,044,604,000 after buying an additional 2,978,359 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Enbridge by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 20,317,133 shares of the pipeline company’s stock worth $793,619,000 after buying an additional 89,571 shares in the last quarter. Institutional investors and hedge funds own 49.25% of the company’s stock.

About Enbridge

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Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.