Argus Begins Coverage on Enbridge (NYSE:ENB)

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.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Enbridge had a return on equity of 8.31% and a net margin of 12.07%. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the business earned $0.55 EPS. Research analysts anticipate that Enbridge will post 2.08 EPS for the current fiscal year.

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.

Featured Article: Day Trading – Risk Worth the Reward?

The Fly

Analyst Recommendations for Enbridge (NYSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.