Brokerages Set Enbridge Inc (NYSE:ENB) Target Price at $65.00

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been given an average rating of “Moderate Buy” by the thirteen research firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $65.00.

A number of analysts have commented on the stock. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Royal Bank Of Canada raised their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Finally, TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th.

Enbridge Trading Down 1.0%

Enbridge stock opened at $53.51 on Friday. The firm has a 50-day moving average price of $51.03 and a two-hundred day moving average price of $49.02. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $116.75 billion, a price-to-earnings ratio of 23.26 and a beta of 0.67. Enbridge has a 52-week low of $39.73 and a 52-week high of $54.70.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the previous year, the company earned $0.75 earnings per share. Sell-side analysts expect that Enbridge will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Enbridge

Several large investors have recently made changes to their positions in ENB. Tsfg LLC raised its holdings in shares of Enbridge by 329.6% during the 3rd 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 acquired a new position in Enbridge in the 3rd quarter valued at $26,000. Highline Wealth Partners LLC boosted its holdings in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 236 shares during the period. Turning Point Benefit Group Inc. acquired a new position in shares of Enbridge during the 3rd quarter worth about $28,000. Finally, Inspire Investing LLC acquired a new stake in Enbridge in the 4th quarter valued at approximately $29,000. 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.