Enbridge Inc. (NYSE:ENB) Short Interest Update

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 20,490,000 shares, a decrease of 40.5% from the February 28th total of 34,450,000 shares. Based on an average daily volume of 3,910,000 shares, the short-interest ratio is currently 5.2 days. Approximately 0.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Metis Global Partners LLC grew its holdings in shares of Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after purchasing an additional 7,986 shares during the last quarter. Aviso Financial Inc. boosted its position in Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after buying an additional 58,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after buying an additional 319,907 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Enbridge by 4.1% in the fourth 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 during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE:ENB traded up $0.07 during midday trading on Friday, reaching $44.43. 2,281,331 shares of the company’s stock were exchanged, compared to its average volume of 4,410,981. 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’s 50 day simple moving average is $43.49 and its two-hundred day simple moving average is $42.50. Enbridge has a 12 month low of $32.86 and a 12 month high of $45.78. The firm has a market capitalization of $96.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

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

Analysts Set New Price Targets

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

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.