Enbridge Inc. (NYSE:ENB) Short Interest Down 55.3% in February

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 34,450,000 shares, a drop of 55.3% from the February 13th total of 77,060,000 shares. Based on an average daily volume of 4,210,000 shares, the short-interest ratio is presently 8.2 days. Currently, 1.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Enbridge

A number of hedge funds have recently added to or reduced their stakes in ENB. apricus wealth LLC boosted its holdings in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares in the last quarter. Wintrust Investments LLC boosted its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ENB. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research note 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.com, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $42.54 on Friday. The stock’s fifty day moving average price is $43.46 and its two-hundred day moving average price is $42.18. Enbridge has a one year low of $32.85 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm has a market cap of $92.69 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping 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 firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the company earned $0.64 EPS. As a group, research analysts expect that Enbridge will post 2.14 EPS for the current fiscal 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.