Analysts Set Enbridge Inc (ENB) PT at $51.00

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been assigned an average rating of “Buy” from the fifteen analysts that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.00.

ENB has been the subject of several research analyst reports. Scotiabank downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. National Bank Financial downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 price target for the company. in a research note on Monday, March 4th. CIBC reaffirmed a “buy” rating and issued a $57.00 price target on shares of Enbridge in a research note on Tuesday, January 15th. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, December 31st. Finally, Wolfe Research raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th.

In other news, insider William T. Yardley sold 14,900 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total transaction of $551,002.00. Following the completion of the sale, the insider now directly owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Allen C. Capps sold 6,514 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $37.02, for a total transaction of $241,148.28. Following the sale, the insider now directly owns 3,437 shares of the company’s stock, valued at $127,237.74. The disclosure for this sale can be found here. Over the last three months, insiders have bought 9,406 shares of company stock valued at $459,513. 0.48% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of ENB. JPMorgan Chase & Co. increased its position in shares of Enbridge by 271.9% during the third quarter. JPMorgan Chase & Co. now owns 2,457,415 shares of the pipeline company’s stock worth $79,350,000 after acquiring an additional 1,796,637 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Enbridge by 12.2% during the third quarter. Alliancebernstein L.P. now owns 357,348 shares of the pipeline company’s stock worth $11,539,000 after purchasing an additional 38,827 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Enbridge by 9.5% during the third quarter. Janus Henderson Group PLC now owns 731,306 shares of the pipeline company’s stock worth $23,613,000 after purchasing an additional 63,581 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Enbridge by 23.6% during the third quarter. Bank of New York Mellon Corp now owns 2,529,463 shares of the pipeline company’s stock worth $81,677,000 after purchasing an additional 483,493 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Enbridge during the third quarter worth about $515,000. 56.42% of the stock is owned by institutional investors.

ENB opened at $36.26 on Wednesday. Enbridge has a 1-year low of $28.82 and a 1-year high of $37.69. The company has a quick ratio of 0.49, a current ratio of 0.58 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $74.11 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.36 and a beta of 0.70.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 15th. The pipeline company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.04. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. The firm had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $12.27 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, equities analysts predict that Enbridge will post 1.72 earnings per share for the current year.

About Enbridge

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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Analyst Recommendations for Enbridge (NYSE:ENB)

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