Traders Buy Enbridge Inc. (ENB) on Weakness
Investors bought shares of Enbridge Inc. (NYSE:ENB) on weakness during trading hours on Friday. $8.66 million flowed into the stock on the tick-up and $6.04 million flowed out of the stock on the tick-down, for a money net flow of $2.62 million into the stock. Of all stocks tracked, Enbridge had the 13th highest net in-flow for the day. Enbridge traded down ($0.07) for the day and closed at $41.32
A number of research firms have commented on ENB. Royal Bank Of Canada restated an “outperform” rating and set a $64.00 price target on shares of Enbridge in a research report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, May 17th. FirstEnergy Capital downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $23.00 to $55.00 in a research report on Friday, May 20th. Finally, TD Securities restated a “buy” rating and set a $58.00 price target (up from $55.00) on shares of Enbridge in a research report on Saturday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. Enbridge has a consensus rating of “Buy” and a consensus price target of $59.83.
The stock has a market cap of $38.39 billion and a price-to-earnings ratio of 29.51. The firm has a 50-day moving average of $41.50 and a 200-day moving average of $37.47.
Enbridge (NYSE:ENB) last posted its earnings results on Thursday, May 12th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.13. The firm earned $8.80 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the company posted $0.56 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts predict that Enbridge Inc. will post $2.31 EPS for the current year.
A number of hedge funds and institutional investors recently modified their holdings of the company. World Asset Management Inc increased its position in shares of Enbridge by 2.4% in the fourth quarter. World Asset Management Inc now owns 45,393 shares of the company’s stock valued at $1,507,000 after buying an additional 1,048 shares during the period. Sei Investments Co. increased its position in shares of Enbridge by 28.4% in the fourth quarter. Sei Investments Co. now owns 97,965 shares of the company’s stock valued at $3,251,000 after buying an additional 21,682 shares during the period. First Trust Advisors LP increased its position in shares of Enbridge by 49.7% in the fourth quarter. First Trust Advisors LP now owns 197,364 shares of the company’s stock valued at $6,551,000 after buying an additional 65,499 shares during the period. Comerica Bank increased its position in shares of Enbridge by 4.4% in the fourth quarter. Comerica Bank now owns 46,047 shares of the company’s stock valued at $1,461,000 after buying an additional 1,950 shares during the period. Finally, Stevens Capital Management LP increased its position in shares of Enbridge by 39.6% in the fourth quarter. Stevens Capital Management LP now owns 30,915 shares of the company’s stock valued at $1,026,000 after buying an additional 8,771 shares during the period.
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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