US Capital Advisors reiterates Enbridge (NYSE:ENB) ‘overweight’ rating


Enbridge (NYSE: ENBGet a rating) (TSE: ENB)The stock had its “overweight” rating restated by stock analysts at US Capital Advisors in a research note released Wednesday to investors. Zacks.com reports.

Several other analysts have also recently commented on the company. CIBC raised its price target on Enbridge from C$57.00 to C$58.00 in a Monday, February 14 research note. Morgan Stanley raised its price target on Enbridge from C$60.00 to C$67.00 in a Tuesday, April 26 research note. BMO Capital Markets raised its price target on Enbridge from C$57.00 to C$59.00 in a Monday, February 14 research note. Royal Bank of Canada raised its price target on Enbridge from C$60.00 to C$65.00 in a Monday, May 9 research note. Finally, National Bank Financial raised its price target on Enbridge from CA$57.00 to CA$60.00 in a Monday, May 9 research note. Eight investment analysts gave the stock a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $56.32.

Shares of NYSE: ENB opened at $46.81 on Wednesday. The company’s 50-day simple moving average is $45.30 and its two-hundred-day simple moving average is $42.50. The company has a market capitalization of $94.85 billion, a P/E ratio of 20.44, a PEG ratio of 3.33 and a beta of 0.77. The company has a debt ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.68. Enbridge has a 52-week low of $36.21 and a 52-week high of $47.42.

Enbridge (NYSE: ENBGet a rating) (TSE:ENB) last announced its quarterly results on Friday, May 6. The pipeline company reported earnings per share (EPS) of $0.66 for the quarter, missing the consensus estimate of $0.67 per ($0.01). The company posted revenue of $11.92 billion in the quarter, versus a consensus estimate of $8.76 billion. Enbridge had a return on equity of 10.40% and a net margin of 12.20%. In the same quarter a year earlier, the company posted EPS of $0.62. On average, stock analysts expect Enbridge to post earnings per share of 2.35 for the current fiscal year.

A number of large investors have recently increased or reduced their stake in ENB. GQG Partners LLC increased its position in Enbridge by 389.4% in the first quarter. GQG Partners LLC now owns 47,579,706 shares of the pipeline company worth $2,191,962,000 after purchasing an additional 37,857,799 shares in the last quarter. Norges Bank bought a new stake in Enbridge in the fourth quarter worth $676,148,000. Cook Street Consulting Inc. acquired a new stake in Enbridge in the fourth quarter valued at $348,749,000. The Manufacturers Life Insurance Company increased its holdings of Enbridge shares by 40.9% in the first quarter. The Manufacturers Life Insurance Company now owns 19,961,512 shares of the pipeline company worth $920,387,000 after acquiring an additional 5,794,908 shares during the period. Finally, Brookfield Asset Management Inc. increased its holdings of Enbridge shares by 167.0% in the third quarter. Brookfield Asset Management Inc. now owns 8,913,847 shares of the pipeline company worth $125,175,000 after acquiring an additional 5,575,344 shares during the period. 53.23% of the shares are held by institutional investors and hedge funds.

About Enbridge (Get a rating)

Enbridge Inc 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.

Further reading

Analyst Recommendations for Enbridge (NYSE: ENB)



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