Enbridge (ENB) Releases Quarterly Earnings Results, Hits Expectations

Enbridge (NYSE:ENB) (TSE:ENB) posted its quarterly earnings data on Friday. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42, MarketWatch Earnings reports. Enbridge had a return on equity of 8.47% and a net margin of 5.99%. During the same period in the prior year, the firm posted $0.39 EPS.

Shares of NYSE ENB opened at $31.42 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.47 and a debt-to-equity ratio of 0.99. Enbridge has a 1-year low of $29.00 and a 1-year high of $41.21. The stock has a market cap of $53.64 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.19 and a beta of 0.52.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HighPoint Advisor Group LLC increased its holdings in Enbridge by 21.4% during the 2nd quarter. HighPoint Advisor Group LLC now owns 8,094 shares of the pipeline company’s stock worth $282,000 after purchasing an additional 1,427 shares during the period. Tealwood Asset Management Inc. increased its holdings in Enbridge by 1.3% during the 2nd quarter. Tealwood Asset Management Inc. now owns 118,062 shares of the pipeline company’s stock worth $4,214,000 after purchasing an additional 1,502 shares during the period. Parsec Financial Management Inc. increased its holdings in Enbridge by 12.7% during the 2nd quarter. Parsec Financial Management Inc. now owns 13,402 shares of the pipeline company’s stock worth $478,000 after purchasing an additional 1,506 shares during the period. First Allied Advisory Services Inc. increased its holdings in Enbridge by 4.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 35,496 shares of the pipeline company’s stock worth $1,270,000 after purchasing an additional 1,546 shares during the period. Finally, Fieldpoint Private Securities LLC increased its holdings in Enbridge by 12.0% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 14,480 shares of the pipeline company’s stock worth $517,000 after purchasing an additional 1,550 shares during the period. Institutional investors own 58.35% of the company’s stock.

Several equities research analysts recently issued reports on the company. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $50.00 in a report on Friday, August 17th. UBS Group assumed coverage on Enbridge in a report on Thursday, October 4th. They issued a “buy” rating on the stock. Citigroup reiterated a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Finally, Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Monday, October 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $49.17.

About Enbridge

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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Earnings History for Enbridge (NYSE:ENB)

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