Enbridge (NYSE:ENB) (TSE:ENB) had its price target dropped by equities researchers at CIBC from $48.00 to $47.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. CIBC’s target price suggests a potential upside of 54.25% from the company’s current price.
Other analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on Enbridge from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. UBS Group cut their target price on Enbridge from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, April 3rd. Credit Suisse Group reiterated a “hold” rating and set a $48.00 target price on shares of Enbridge in a research report on Friday, June 26th. Industrial Alliance Securities started coverage on Enbridge in a research report on Wednesday, April 1st. They set a “buy” rating and a $55.00 target price for the company. Finally, Barclays upgraded Enbridge to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $51.80.
Shares of NYSE ENB traded down $0.02 during trading on Tuesday, hitting $30.47. The company had a trading volume of 145,588 shares, compared to its average volume of 3,301,887. The stock has a 50 day simple moving average of $31.55 and a 200 day simple moving average of $34.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.58. Enbridge has a 12 month low of $22.57 and a 12 month high of $43.15. The firm has a market capitalization of $61.73 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 1.67 and a beta of 0.83.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Thursday, May 7th. The pipeline company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.32. Enbridge had a return on equity of 8.84% and a net margin of 4.88%. The firm had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same quarter last year, the business posted $0.81 earnings per share. As a group, analysts predict that Enbridge will post 1.91 EPS for the current year.
Large investors have recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its stake in shares of Enbridge by 5.5% in the 1st quarter. Foundations Investment Advisors LLC now owns 31,909 shares of the pipeline company’s stock valued at $868,000 after purchasing an additional 1,659 shares during the last quarter. Brinker Capital Inc. grew its holdings in shares of Enbridge by 1.8% during the fourth quarter. Brinker Capital Inc. now owns 26,270 shares of the pipeline company’s stock worth $1,045,000 after buying an additional 471 shares during the last quarter. Capital Asset Advisory Services LLC lifted its position in Enbridge by 5.7% in the first quarter. Capital Asset Advisory Services LLC now owns 14,569 shares of the pipeline company’s stock valued at $455,000 after purchasing an additional 789 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in Enbridge in the first quarter valued at about $1,736,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management lifted its position in Enbridge by 7.4% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 69,219 shares of the pipeline company’s stock valued at $2,014,000 after purchasing an additional 4,765 shares during the period. 54.71% of the stock is owned by institutional investors and hedge funds.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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