Enbridge (NYSE:ENB) Reaches New 12-Month High – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.12 and last traded at $45.93, with a volume of 1358272 shares changing hands. The stock had previously closed at $45.14.

Wall Street Analyst Weigh In

Several research analysts have commented on ENB shares. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup began coverage on Enbridge in a report on Friday. They set a “buy” rating on the stock. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

The firm has a market capitalization of $94.44 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. 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 stock has a 50-day moving average price of $43.45 and a 200-day moving average price of $42.61.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the company posted $0.64 EPS. On average, research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Enbridge in the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership increased its holdings in Enbridge by 396.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after buying an additional 9,621,425 shares during the last quarter. Blackstone Inc. raised its stake in Enbridge by 650.7% during the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after buying an additional 4,956,379 shares in the last quarter. Deutsche Bank AG lifted its holdings in Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Enbridge in the 4th quarter worth approximately $180,941,000. 54.60% of the stock is currently owned by institutional investors.

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.