Goldman Sachs Group started coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm issued a neutral rating on the pipeline company’s stock.
A number of other equities analysts have also commented on ENB. National Bank Financial upgraded shares of Enbridge from a sector perform overweight rating to an outperform overweight rating in a research report on Wednesday, March 20th. Industrial Alliance Securities restated a buy rating on shares of Tc Pipelines in a research report on Monday, April 8th. Wolfe Research lowered shares of Enbridge from an outperform rating to a peer perform rating and set a $37.00 price objective for the company. in a research report on Thursday, June 13th. Barclays set a $192.00 price objective on shares of Tesla and gave the company a sell rating in a research report on Tuesday, April 9th. Finally, Credit Suisse Group restated a hold rating and issued a $32.00 price objective on shares of CRH in a research report on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Enbridge presently has a consensus rating of Hold and a consensus price target of $43.75.
Shares of NYSE:ENB opened at $35.83 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.64 and a quick ratio of 0.56. The company has a market capitalization of $72.51 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.82 and a beta of 0.58. Enbridge has a twelve month low of $28.82 and a twelve month high of $38.04. The stock’s 50-day simple moving average is $35.68.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. The company had revenue of $9.67 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period last year, the business earned $0.82 earnings per share. Sell-side analysts expect that Enbridge will post 1.89 EPS for the current year.
In other news, insider Albert Monaco acquired 7,848 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was bought at an average cost of $49.81 per share, for a total transaction of $390,908.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ENB. TD Asset Management Inc. lifted its position in Enbridge by 3.7% during the first quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock valued at $1,688,151,000 after purchasing an additional 1,648,741 shares during the last quarter. CIBC Asset Management Inc lifted its position in Enbridge by 4.1% during the first quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock valued at $820,833,000 after purchasing an additional 895,305 shares during the last quarter. Norges Bank bought a new stake in Enbridge during the fourth quarter valued at approximately $552,827,000. The Manufacturers Life Insurance Company lifted its position in Enbridge by 10.3% during the first quarter. The Manufacturers Life Insurance Company now owns 14,089,169 shares of the pipeline company’s stock valued at $510,874,000 after purchasing an additional 1,320,420 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Enbridge by 5.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,372,445 shares of the pipeline company’s stock valued at $484,469,000 after purchasing an additional 652,618 shares during the last quarter. Institutional investors own 55.09% of the company’s stock.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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