Enbridge (NYSE:ENB) Trading Down 0.5% – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB) dropped 0.5% during trading on Tuesday . The stock traded as low as $43.26 and last traded at $43.27. Approximately 471,382 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,330,198 shares. The stock had previously closed at $43.50.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Down 0.9 %

The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market cap of $93.90 billion, a P/E ratio of 25.07, a PEG ratio of 3.92 and a beta of 0.95. The business has a 50 day moving average price of $43.46 and a 200-day moving average price of $42.26.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business 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 previous year, the firm earned $0.64 EPS. Analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. apricus wealth LLC increased its holdings in shares of Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after acquiring an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. grew its holdings in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after buying an additional 230 shares in the last quarter. Wintrust Investments LLC grew its holdings in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its holdings in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after buying an additional 240 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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.