Enbridge (NYSE:ENB) Rating Increased to Hold at Wall Street Zen

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research firms have also commented on ENB. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Performance

ENB opened at $53.51 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63. The company has a market cap of $116.75 billion, a PE ratio of 23.26 and a beta of 0.67. The stock has a 50-day moving average of $51.03 and a 200-day moving average of $49.01. Enbridge has a 52-week low of $39.73 and a 52-week high of $54.70.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the business earned $0.75 EPS. As a group, equities research analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

A number of hedge funds have recently modified their holdings of the company. Tsfg LLC raised its stake in shares of Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares in the last quarter. Triumph Capital Management bought a new position in Enbridge in the third quarter worth $26,000. Highline Wealth Partners LLC boosted its stake in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new stake in Enbridge during the third quarter worth $28,000. Finally, Inspire Investing LLC bought a new stake in Enbridge in the 4th quarter valued at $29,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Company Profile

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.