Equities research analysts at Argus initiated coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the pipeline company’s stock.
A number of other equities analysts have also issued reports on the company. US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a research note on Friday, October 25th. CIBC dropped their price objective on Enbridge from $57.00 to $56.00 in a research note on Wednesday, October 23rd. Scotiabank raised Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Barclays lowered Enbridge from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $52.00 to $51.00 in a report on Tuesday, October 15th. Finally, Evercore ISI reaffirmed a “hold” rating and set a $48.00 target price on shares of Enbridge in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $46.34.
NYSE:ENB opened at $37.97 on Wednesday. Enbridge has a 12-month low of $28.82 and a 12-month high of $38.77. The firm has a market capitalization of $76.91 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.59 and a quick ratio of 0.50. The business has a 50 day simple moving average of $37.11 and a 200 day simple moving average of $35.58.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Westside Investment Management Inc. purchased a new position in Enbridge in the 2nd quarter worth about $25,000. Strategic Blueprint LLC acquired a new stake in Enbridge during the 3rd quarter worth about $27,000. Vista Private Wealth Partners. LLC purchased a new stake in Enbridge during the third quarter valued at about $33,000. Bridger Capital Management LLC purchased a new stake in Enbridge during the third quarter valued at about $34,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Enbridge during the second quarter valued at about $35,000. 53.77% of the stock is owned by institutional investors and hedge funds.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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