Enbridge (NYSE:ENB) Hits New 1-Year High – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $46.12 and last traded at $45.93, with a volume of 1358272 shares. The stock had previously closed at $45.14.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

The stock has a market cap of $99.02 billion, a PE ratio of 26.42, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a fifty day moving average price of $43.48 and a 200 day moving average price of $42.57. 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 announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping 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 business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the firm earned $0.64 EPS. Analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of Enbridge during the 4th quarter valued at about $29,000. Wintrust Investments LLC raised its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares in the last quarter. GeoWealth Management LLC lifted its holdings in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares during the period. Finally, Capital A Wealth Management LLC bought a new stake in Enbridge during the 4th quarter valued at approximately $39,000. Institutional investors 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.