Enbridge (NYSE:ENB) Coverage Initiated at TD Securities

Stock analysts at TD Securities began coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the pipeline company’s stock.

Several other equities analysts have also weighed in on ENB. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Trading Up 1.5 %

Shares of NYSE:ENB opened at $44.04 on Wednesday. The company has a 50 day moving average of $42.62 and a 200-day moving average of $40.42. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market cap of $95.93 billion, a P/E ratio of 20.39, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge has a twelve month low of $32.85 and a twelve month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. As a group, analysts anticipate that Enbridge will post 2.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. boosted its position in Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the last quarter. Eagle Bay Advisors LLC increased its holdings in Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after buying an additional 240 shares during the last quarter. Richardson Financial Services Inc. raised its position in Enbridge by 28.4% during the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 246 shares in the last quarter. Associated Banc Corp lifted its stake in Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 248 shares during the last quarter. Finally, Hobbs Group Advisors LLC grew its position in Enbridge by 15.1% in the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other 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.