Enbridge (ENB) Short Interest Update

Enbridge (NYSE:ENB) (TSE:ENB) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 21,285,517 shares, a decline of 14.1% from the February 15th total of 24,781,980 shares. Based on an average trading volume of 3,011,312 shares, the short-interest ratio is presently 7.1 days. Currently, 2.5% of the company’s shares are short sold.

In other news, Director Michael E. J. Phelps sold 18,054 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total transaction of $613,836.00. Following the completion of the transaction, the director now directly owns 56,245 shares of the company’s stock, valued at $1,912,330. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert R. Rooney acquired 6,100 shares of the stock in a transaction dated Thursday, March 15th. The shares were bought at an average cost of $40.80 per share, with a total value of $248,880.00. The disclosure for this purchase can be found here.

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Several institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc raised its holdings in shares of Enbridge by 53.6% in the 3rd quarter. NEXT Financial Group Inc now owns 4,196 shares of the pipeline company’s stock worth $174,000 after purchasing an additional 1,465 shares during the period. First Allied Advisory Services Inc. raised its holdings in shares of Enbridge by 4.8% during the 4th quarter. First Allied Advisory Services Inc. now owns 33,971 shares of the pipeline company’s stock valued at $1,330,000 after buying an additional 1,543 shares during the period. Brown Advisory Inc. raised its holdings in shares of Enbridge by 0.3% during the 4th quarter. Brown Advisory Inc. now owns 580,268 shares of the pipeline company’s stock valued at $22,694,000 after buying an additional 1,555 shares during the period. Assetmark Inc. raised its holdings in shares of Enbridge by 37.9% during the 4th quarter. Assetmark Inc. now owns 5,719 shares of the pipeline company’s stock valued at $224,000 after buying an additional 1,573 shares during the period. Finally, Strategic Financial Services Inc raised its holdings in shares of Enbridge by 1.9% during the 4th quarter. Strategic Financial Services Inc now owns 88,483 shares of the pipeline company’s stock valued at $3,461,000 after buying an additional 1,636 shares during the period. Institutional investors own 63.22% of the company’s stock.

Shares of ENB traded down $0.26 during trading hours on Friday, reaching $31.23. 2,744,914 shares of the company traded hands, compared to its average volume of 4,323,509. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. The firm has a market cap of $53,381.54, a P/E ratio of 20.28, a PEG ratio of 2.00 and a beta of 0.63. Enbridge has a fifty-two week low of $29.54 and a fifty-two week high of $42.92.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 16th. The pipeline company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.39 billion. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. equities analysts expect that Enbridge will post 1.75 EPS for the current fiscal year.

A number of equities analysts recently issued reports on the company. Mizuho assumed coverage on Enbridge in a report on Thursday, March 29th. They issued a “neutral” rating for the company. Bank of America assumed coverage on Enbridge in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Morgan Stanley cut their price target on Enbridge from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th. Finally, ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.67.

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Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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