Enbridge Inc. (NYSE:ENB) dropped 1.5% during mid-day trading on Wednesday . The company traded as low as $41.13 and last traded at $41.26, with a volume of 439,059 shares changing hands. The stock had previously closed at $41.87.

A number of research analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $64.00 price objective on shares of Enbridge in a report on Wednesday, June 29th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a report on Friday, April 22nd. Goldman Sachs Group Inc. cut Enbridge from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $44.00 to $42.00 in a report on Wednesday. National Bank Financial cut Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday. Finally, FirstEnergy Capital cut Enbridge from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $23.00 to $55.00 in a report on Friday, May 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.92.

The stock’s 50 day moving average is $41.80 and its 200 day moving average is $37.95. The company has a market cap of $38.12 billion and a price-to-earnings ratio of 29.45.

Enbridge (NYSE:ENB) last released its earnings results on Thursday, May 12th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.63 by $0.13. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that Enbridge Inc. will post $2.30 EPS for the current year.

Other hedge funds have added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Enbridge by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 13,785,421 shares of the company’s stock valued at $457,538,000 after buying an additional 916,736 shares in the last quarter. I.G. Investment Management LTD. increased its stake in shares of Enbridge by 7.1% in the fourth quarter. I.G. Investment Management LTD. now owns 10,634,031 shares of the company’s stock valued at $353,701,000 after buying an additional 707,216 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Enbridge by 15.1% in the fourth quarter. OppenheimerFunds Inc. now owns 1,057,142 shares of the company’s stock valued at $35,087,000 after buying an additional 138,653 shares during the period. First Trust Advisors LP increased its stake 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. Finally, Wells Fargo & Company MN increased its stake in shares of Enbridge by 17.3% in the fourth quarter. Wells Fargo & Company MN now owns 327,851 shares of the company’s stock valued at $10,881,000 after buying an additional 48,469 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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