Enbridge (NYSE:ENB) Trading Down 0.3% – Here’s Why

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was down 0.3% during mid-day trading on Thursday . The company traded as low as $41.01 and last traded at $41.63. Approximately 1,349,366 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 4,438,674 shares. The stock had previously closed at $41.77.

Wall Street Analyst Weigh In

Several brokerages recently commented on ENB. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. Finally, TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Up 3.5 %

The company has a market capitalization of $94.31 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The firm’s 50 day moving average price is $43.14 and its two-hundred day moving average price is $42.66. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm posted $0.64 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Metis Global Partners LLC increased its position in Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after buying an additional 7,986 shares during the period. Aviso Financial Inc. increased its position in Enbridge by 4.3% during the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after acquiring an additional 58,176 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 3,611,421 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after purchasing an additional 49,800 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.