Enbridge Inc. (NYSE:ENB) Short Interest Down 40.5% in March

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 20,490,000 shares, a decline of 40.5% from the February 28th total of 34,450,000 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average trading volume of 3,910,000 shares, the days-to-cover ratio is currently 5.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ENB shares. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Institutional Investors Weigh In On Enbridge

Several large investors have recently made changes to their positions in ENB. McIlrath & Eck LLC grew its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge in the fourth quarter valued at $29,000. Wintrust Investments LLC increased its position in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC raised its stake in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Enbridge during the fourth quarter valued at $39,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.2 %

NYSE ENB opened at $44.43 on Monday. Enbridge has a 12 month low of $32.86 and a 12 month high of $45.78. 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 stock has a market cap of $96.82 billion, a PE ratio of 25.83, a P/E/G ratio of 3.92 and a beta of 0.95. The stock’s 50 day moving average is $43.49 and its 200 day moving average is $42.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Research analysts predict that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Company Profile

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.