TD Securities Begins Coverage on Enbridge (NYSE:ENB)

TD Securities assumed coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the pipeline company’s stock.

ENB has been the topic of a number of other research reports. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Up 1.5 %

ENB opened at $44.04 on Wednesday. Enbridge has a 12 month low of $32.85 and a 12 month high of $44.13. The business has a 50-day moving average of $42.62 and a two-hundred day moving average of $40.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $95.93 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, research analysts expect that Enbridge will post 2.03 earnings per share for the current year.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after acquiring an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after purchasing an additional 644,526 shares during the period. National Bank of Canada FI lifted its position in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Company Profile

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.