Enbridge’s (ENB) “Hold” Rating Reaffirmed at Evercore ISI

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Enbridge (NYSE:ENB) (TSE:ENB)‘s stock had its “hold” rating reiterated by research analysts at Evercore ISI in a research report issued on Tuesday, AnalystRatings.com reports. They presently have a $48.00 price target on the pipeline company’s stock. Evercore ISI’s price objective would suggest a potential upside of 25.72% from the company’s previous close.

Other analysts have also issued research reports about the company. Citigroup boosted their price target on Enbridge from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Scotiabank raised Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a research note on Friday, October 25th. Goldman Sachs Group initiated coverage on Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. Finally, ValuEngine lowered Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.75.

NYSE:ENB traded up $0.46 during mid-day trading on Tuesday, hitting $38.18. 2,217,783 shares of the company traded hands, compared to its average volume of 3,501,894. The stock’s fifty day moving average price is $36.20 and its 200-day moving average price is $35.49. Enbridge has a one year low of $28.82 and a one year high of $38.77. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 0.94. The firm has a market cap of $78.39 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Enbridge had a return on equity of 8.31% and a net margin of 12.07%. The business had revenue of $8.79 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. Equities analysts predict that Enbridge will post 2.08 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENB. Alberta Investment Management Corp boosted its stake in shares of Enbridge by 180.7% in the third quarter. Alberta Investment Management Corp now owns 5,289,155 shares of the pipeline company’s stock worth $185,760,000 after acquiring an additional 3,405,100 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Enbridge by 288.8% in the second quarter. Renaissance Technologies LLC now owns 3,784,001 shares of the pipeline company’s stock worth $136,566,000 after acquiring an additional 2,810,630 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Enbridge by 1,462.6% in the second quarter. Commonwealth Bank of Australia now owns 2,325,341 shares of the pipeline company’s stock worth $84,009,000 after acquiring an additional 2,176,532 shares during the period. National Pension Service bought a new position in shares of Enbridge in the second quarter worth about $98,372,000. Finally, Bank of America Corp DE boosted its stake in shares of Enbridge by 25.4% in the second quarter. Bank of America Corp DE now owns 7,249,206 shares of the pipeline company’s stock worth $261,551,000 after acquiring an additional 1,466,849 shares during the period. 54.18% of the stock is owned by hedge funds and other institutional investors.

About Enbridge

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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