Enbridge (NYSE:ENB) Earns Equal Weight Rating from Analysts at Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research note issued on Friday, StockNewsAPI reports. The firm set an “equal weight” rating on the pipeline company’s stock.

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Price Performance

Shares of ENB stock opened at $40.94 on Friday. The firm has a fifty day moving average of $40.60 and a two-hundred day moving average of $37.74. The firm has a market cap of $89.16 billion, a P/E ratio of 21.32, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge has a 1-year low of $31.31 and a 1-year high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, research analysts anticipate that Enbridge will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

Several institutional investors have recently modified their holdings of the company. Financial Advocates Investment Management grew its position in Enbridge by 1.1% in the 3rd quarter. Financial Advocates Investment Management now owns 30,900 shares of the pipeline company’s stock worth $1,255,000 after purchasing an additional 340 shares during the last quarter. Diversify Wealth Management LLC boosted its position in shares of Enbridge by 3.4% during the third quarter. Diversify Wealth Management LLC now owns 30,583 shares of the pipeline company’s stock worth $1,261,000 after buying an additional 1,016 shares during the period. Pinnacle Associates Ltd. grew its holdings in Enbridge by 7.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 91,532 shares of the pipeline company’s stock worth $3,717,000 after buying an additional 6,293 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in Enbridge by 2.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,702 shares of the pipeline company’s stock valued at $841,000 after acquiring an additional 478 shares in the last quarter. Finally, Galibier Capital Management Ltd. boosted its position in Enbridge by 0.4% during the 3rd quarter. Galibier Capital Management Ltd. now owns 641,864 shares of the pipeline company’s stock worth $26,103,000 after acquiring an additional 2,579 shares during the period. Institutional investors own 54.60% of the company’s stock.

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.