Short Interest in Enbridge Inc. (NYSE:ENB) Decreases By 40.5%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of a large decrease in short interest in 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. Currently, 0.9% of the company’s shares are short sold. Based on an average trading volume of 3,910,000 shares, the short-interest ratio is currently 5.2 days.

Enbridge Stock Up 0.2 %

ENB stock traded up $0.07 during mid-day trading on Friday, reaching $44.43. The company had a trading volume of 2,281,331 shares, compared to its average volume of 4,410,981. The firm has a fifty day simple moving average of $43.49 and a 200 day simple moving average of $42.47. 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 has a market capitalization of $96.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge has a fifty-two week low of $32.86 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its 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. The firm had revenue of $11.59 billion during 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 quarter in the previous year, the firm posted $0.64 earnings per share. Analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

Large investors have recently bought and sold shares of the business. McIlrath & Eck LLC increased its holdings in shares of 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 purchasing an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in shares of Enbridge in the 4th quarter worth $29,000. Wintrust Investments LLC boosted its holdings in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC increased its stake in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 611 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in Enbridge during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

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.