Enbridge (NYSE:ENB) Trading Down 0.5% – Here’s What Happened

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

Analyst Ratings Changes

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

Enbridge Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a 50-day moving average of $43.46 and a 200-day moving average of $42.26. The firm has a market capitalization of $93.90 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm earned $0.64 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC lifted its stake in Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. lifted its stake in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Deutsche Bank AG lifted its stake in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Norges Bank bought a new stake in Enbridge in the 4th quarter valued at approximately $909,415,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.