Enbridge (NYSE:ENB) Now Covered by Citigroup

Citigroup began coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued a buy rating on the pipeline company’s stock.

Several other equities analysts have also recently weighed in on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Down 4.4 %

Shares of Enbridge stock opened at $43.34 on Friday. The stock has a market capitalization of $94.44 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge has a 52 week low of $32.86 and a 52 week high of $46.12. The stock has a 50 day moving average price of $43.45 and a two-hundred day moving average price of $42.61. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

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

Institutional Investors Weigh In On Enbridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge in the 4th quarter valued at $29,000. Wintrust Investments LLC raised its stake in shares of Enbridge by 47.8% during the 4th 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 period. GeoWealth Management LLC boosted its holdings in shares of Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Enbridge during the fourth quarter valued at about $39,000. 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.