Enbridge (NYSE:ENB) Coverage Initiated by Analysts at TD Securities

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

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

Enbridge Price Performance

Shares of ENB opened at $43.98 on Wednesday. The business has a 50-day simple moving average of $42.68 and a two-hundred day simple moving average of $40.45. Enbridge has a 12-month low of $32.85 and a 12-month high of $44.74. The stock has a market cap of $95.79 billion, a PE ratio of 20.36, a PEG ratio of 4.00 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Analysts anticipate that Enbridge will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Institutional investors and hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC lifted its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new stake in Enbridge in the second quarter worth $28,000. Finally, Fortitude Family Office LLC bought a new stake in Enbridge in the third quarter valued at $35,000. Institutional investors own 54.60% of the company’s stock.

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.