Enbridge Inc. (ENB) Trading Up 3%
Shares of Enbridge Inc. (NYSE:ENB) were up 3% during mid-day trading on Friday . The stock traded as high as $40.83 and last traded at $40.75, with a volume of 829,169 shares trading hands. The stock had previously closed at $39.57.
Several analysts have recently issued reports on ENB shares. TD Securities reissued a “buy” rating and issued a $59.00 price target (up previously from $58.00) on shares of Enbridge in a research report on Wednesday, August 3rd. Zacks Investment Research raised 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 lowered shares of Enbridge from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $23.00 to $55.00 in a research report on Friday, May 20th. Bank of America Corp. started coverage on shares of Enbridge in a research report on Thursday. They issued a “neutral” rating on the stock. Finally, Goldman Sachs Group Inc. lowered shares of Enbridge from a “buy” rating to a “neutral” rating and lowered their price target for the company from $44.00 to $42.00 in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $56.00.
The company has a 50-day moving average price of $40.83 and a 200-day moving average price of $39.77. The company has a market capitalization of $38.29 billion and a price-to-earnings ratio of 36.15.
Enbridge (NYSE:ENB) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. During the same quarter last year, the firm earned $0.60 EPS. Equities analysts expect that Enbridge Inc. will post $1.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, August 11th.
An institutional investor recently raised its position in Enbridge stock. Jennison Associates LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,678 shares of the company’s stock after buying an additional 20,756 shares during the period. Jennison Associates LLC’s holdings in Enbridge were worth $3,242,000 as of its most recent filing with the SEC.
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.