Enbridge (NYSE:ENB) Shares Down 0.5% – Here’s Why

Enbridge Inc. (NYSE:ENB) (TSE:ENB) traded down 0.5% during mid-day trading on Tuesday . The company traded as low as $43.26 and last traded at $43.27. 471,382 shares traded hands during trading, a decline of 89% from the average session volume of 4,330,198 shares. The stock had previously closed at $43.50.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

The stock has a market cap of $95.28 billion, a PE ratio of 25.42, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm’s 50 day moving average price is $43.45 and its two-hundred day moving average price is $42.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the business earned $0.64 earnings per share. On average, research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Enbridge

A number of large investors have recently modified their holdings of ENB. Natixis Advisors LLC boosted its position in shares of Enbridge by 39.6% in the third quarter. Natixis Advisors LLC now owns 193,042 shares of the pipeline company’s stock valued at $7,839,000 after acquiring an additional 54,737 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Enbridge by 23.4% in the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock valued at $1,895,000 after acquiring an additional 8,848 shares during the period. Prospera Financial Services Inc lifted its position in Enbridge by 5.5% during the third quarter. Prospera Financial Services Inc now owns 32,513 shares of the pipeline company’s stock valued at $1,321,000 after purchasing an additional 1,703 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Enbridge by 142.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 14,134 shares of the pipeline company’s stock valued at $574,000 after purchasing an additional 8,308 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in Enbridge by 17.9% during the third quarter. Banque Cantonale Vaudoise now owns 7,899 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 1,202 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

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.