Enbridge (NYSE:ENB) Trading 0.1% Higher – Time to Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price traded up 0.1% during trading on Wednesday . The stock traded as high as $40.52 and last traded at $40.44. 472,616 shares changed hands during trading, a decline of 90% from the average session volume of 4,870,519 shares. The stock had previously closed at $40.40.

Analyst Ratings Changes

Several research analysts have issued reports on ENB shares. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Stock Up 0.3 %

The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock’s 50 day simple moving average is $40.66 and its 200 day simple moving average is $37.85. The stock has a market capitalization of $86.47 billion, a P/E ratio of 20.54, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business earned $0.51 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ENB. Sei Investments Co. grew its holdings in shares of Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares in the last quarter. Stonegate Investment Group LLC boosted its holdings in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after buying an additional 13,515 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge in the first quarter valued at $1,133,000. U.S. Capital Wealth Advisors LLC boosted its holdings in Enbridge by 29.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company’s stock valued at $6,810,000 after purchasing an additional 38,231 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.