Enbridge (NYSE:ENB) Stock Rating Upgraded by Raymond James Financial

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by Raymond James Financial to a “moderate buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. National Bank Financial reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Tuesday. Finally, Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Down 1.1%

Shares of NYSE ENB opened at $50.88 on Tuesday. Enbridge has a 1 year low of $39.73 and a 1 year high of $54.19. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.68. The firm has a market cap of $111.00 billion, a PE ratio of 22.12 and a beta of 0.69. The company has a 50 day simple moving average of $48.22 and a 200 day simple moving average of $48.11.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the prior year, the company posted $0.75 EPS. On average, research analysts forecast that Enbridge will post 2.14 EPS for the current year.

Hedge Funds Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC bought a new position in Enbridge in the fourth quarter valued at $261,000. AQR Capital Management LLC boosted its holdings in shares of Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Enbridge by 1.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock valued at $19,595,000 after purchasing an additional 5,044 shares during the last quarter. Legacy Wealth Asset Management LLC purchased a new position in shares of Enbridge during the 2nd quarter valued at about $643,000. Finally, FNY Investment Advisers LLC bought a new stake in Enbridge in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.