Enbridge (NYSE:ENB) Coverage Initiated at TD Securities

Research analysts at TD Securities assumed coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a report issued on Wednesday, Marketbeat reports. The firm set a “buy” rating on the pipeline company’s stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

ENB stock opened at $43.98 on Wednesday. The stock has a market cap of $95.79 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The stock has a 50-day moving average price of $42.68 and a two-hundred day moving average price of $40.45. Enbridge has a 1 year low of $32.85 and a 1 year high of $44.74. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm earned $0.46 EPS. Equities analysts forecast that Enbridge will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its stake in shares of Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after acquiring an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Enbridge by 70.7% during the fourth 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 during the period. Duff & Phelps Investment Management Co. increased its holdings in shares of Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Pinnacle Financial Partners Inc raised its position in shares of Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares during the period. Finally, Stonegate Investment Group LLC lifted its stake in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after buying an additional 13,515 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.