Enbridge Inc. (NYSE:ENB) Receives $67.00 Average Price Target from Brokerages

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $67.00.

ENB has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. TD Securities began 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 note on Wednesday, March 5th.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently modified their holdings of the company. McIlrath & Eck LLC lifted its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge in the fourth quarter valued at about $29,000. Wintrust Investments LLC boosted its stake in shares of 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 acquiring an additional 238 shares during the period. GeoWealth Management LLC grew its position 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 purchasing an additional 611 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Enbridge during the 3rd quarter valued at approximately $37,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $42.64 on Monday. 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 firm has a market cap of $92.90 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The business has a 50-day simple moving average of $43.46 and a two-hundred day simple moving average of $42.17. Enbridge has a fifty-two week low of $32.85 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the company earned $0.64 earnings per share. On average, analysts expect that Enbridge will post 2.14 earnings per share for the current year.

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.