Enbridge (NYSE:ENB) Upgraded at Wells Fargo & Company

Enbridge (NYSE:ENB) (TSE:ENB) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, FinViz reports.

A number of other analysts have also weighed in on ENB. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Enbridge Trading Up 0.5 %

Shares of Enbridge stock opened at $41.05 on Wednesday. Enbridge has a 12-month low of $32.76 and a 12-month high of $42.16. The stock has a market capitalization of $89.39 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 3.91 and a beta of 0.93. The company has a 50-day simple moving average of $40.78 and a 200 day simple moving average of $38.09. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.99%. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business posted $0.46 earnings per share. Research analysts expect that Enbridge will post 2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Several large investors have recently made changes to their positions in the company. Grove Bank & Trust raised its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC lifted its holdings in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the period. TruNorth Capital Management LLC bought a new position in Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter worth $28,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at $29,000. 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.