Enbridge (NYSE:ENB) Shares Down 0.5% – Here’s Why

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ENB shares. Royal Bank of Canada lifted their target price 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 started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set 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 assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Trading Up 0.7 %

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 stock’s 50-day simple moving average is $43.45 and its 200-day simple moving average is $42.30. The firm has a market capitalization of $95.28 billion, a PE ratio of 25.42, a P/E/G ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC lifted its stake in Enbridge by 39.6% during the 3rd quarter. Natixis Advisors LLC now owns 193,042 shares of the pipeline company’s stock valued at $7,839,000 after acquiring an additional 54,737 shares during the period. Thrivent Financial for Lutherans lifted its stake in Enbridge by 23.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock valued at $1,895,000 after acquiring an additional 8,848 shares during the period. Prospera Financial Services Inc lifted its stake in Enbridge by 5.5% during the 3rd quarter. Prospera Financial Services Inc now owns 32,513 shares of the pipeline company’s stock valued at $1,321,000 after acquiring an additional 1,703 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in Enbridge by 142.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 14,134 shares of the pipeline company’s stock valued at $574,000 after acquiring an additional 8,308 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in Enbridge by 17.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,899 shares of the pipeline company’s stock valued at $321,000 after acquiring an additional 1,202 shares during the period. 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.