Enbridge (NYSE:ENB) Trading 1.7% Higher – Should You Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was up 1.7% on Friday . The company traded as high as $45.82 and last traded at $45.32. Approximately 4,781,000 shares were traded during trading, an increase of 9% from the average daily volume of 4,404,780 shares. The stock had previously closed at $44.57.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. Royal Bank of Canada lifted 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. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued 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. Based on data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Stock Performance

The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the firm posted $0.64 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $29,000. Wintrust Investments LLC raised its position in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its stake in Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in Enbridge during the 4th quarter worth $39,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.