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 issued on Thursday.

ENB has been the topic of a number of other reports. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Stock Up 1.9%

Shares of ENB opened at $46.04 on Thursday. Enbridge has a 52-week low of $34.60 and a 52-week high of $47.08. The company has a market capitalization of $100.37 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The stock has a fifty day simple moving average of $44.74 and a two-hundred day simple moving average of $43.60. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. As a group, equities analysts forecast that Enbridge will post 2.14 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Several hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Enbridge by 8.3% in the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock valued at $23,717,000 after purchasing an additional 44,675 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of Enbridge by 4.8% in the fourth quarter. Arkadios Wealth Advisors now owns 10,529 shares of the pipeline company’s stock valued at $447,000 after purchasing an additional 483 shares during the period. HB Wealth Management LLC grew its stake in shares of Enbridge by 90.1% in the fourth quarter. HB Wealth Management LLC now owns 13,933 shares of the pipeline company’s stock worth $591,000 after acquiring an additional 6,603 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Enbridge by 5.8% in the fourth quarter. Ballentine Partners LLC now owns 10,939 shares of the pipeline company’s stock worth $464,000 after acquiring an additional 597 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Company Profile

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.