Enbridge Inc. (NYSE:ENB)’s share price shot up 4.1% during trading on Friday . The company traded as high as $40.76 and last traded at $40.68, with a volume of 845,493 shares trading hands. The stock had previously closed at $39.09.

A number of research firms have recently commented on ENB. Goldman Sachs Group Inc. lowered shares of Enbridge from a “buy” rating to a “neutral” rating and dropped their price target for the company from $44.00 to $42.00 in a research report on Wednesday, July 20th. National Bank Financial lowered shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of Enbridge in a research report on Wednesday, June 29th. Finally, FirstEnergy Capital lowered shares of Enbridge from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $23.00 to $55.00 in a research report on Friday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and an average target price of $57.92.

The company’s 50 day moving average is $41.44 and its 200 day moving average is $38.30. The stock has a market cap of $38.21 billion and a P/E ratio of 30.09.

Enbridge (NYSE:ENB) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.03. During the same quarter in the previous year, the business earned $0.60 earnings per share. Analysts expect that Enbridge Inc. will post $1.78 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Comerica Bank raised its stake in shares of Enbridge by 4.4% in the fourth quarter. Comerica Bank now owns 46,047 shares of the company’s stock worth $1,461,000 after buying an additional 1,950 shares during the last quarter. Vanguard Group Inc. raised its position in Enbridge by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 13,785,421 shares of the company’s stock worth $457,538,000 after buying an additional 916,736 shares in the last quarter. Wells Fargo & Company MN raised its position in Enbridge by 17.3% in the fourth quarter. Wells Fargo & Company MN now owns 327,851 shares of the company’s stock worth $10,881,000 after buying an additional 48,469 shares in the last quarter. I.G. Investment Management LTD. raised its position in Enbridge by 7.1% in the fourth quarter. I.G. Investment Management LTD. now owns 10,634,031 shares of the company’s stock worth $353,701,000 after buying an additional 707,216 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Enbridge by 27.0% in the fourth quarter. Jennison Associates LLC now owns 97,678 shares of the company’s stock worth $3,242,000 after buying an additional 20,756 shares in the last quarter.

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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