Enbridge (NYSE:ENB) Hits New 1-Year High – Time to Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.12 and last traded at $45.93, with a volume of 1358272 shares changing hands. The stock had previously closed at $45.14.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Citigroup began coverage on shares of Enbridge in a research note on Friday. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Down 4.4 %

The firm has a fifty day simple moving average of $43.45 and a 200 day simple moving average of $42.61. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market cap of $94.44 billion, a PE ratio of 25.20, a PEG ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the firm earned $0.64 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Institutional Trading of Enbridge

Institutional investors and hedge funds have recently made changes to their positions in the company. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge during the 4th quarter worth approximately $29,000. Wintrust Investments LLC raised its holdings in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. GeoWealth Management LLC raised its holdings in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after buying an additional 611 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in Enbridge during the fourth quarter valued at approximately $39,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

About Enbridge

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.