Enbridge Inc. (NYSE:ENB) Short Interest Update

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 20,490,000 shares, a decline of 40.5% from the February 28th total of 34,450,000 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 3,910,000 shares, the short-interest ratio is currently 5.2 days.

Enbridge Stock Up 0.2 %

Shares of Enbridge stock traded up $0.07 during midday trading on Friday, reaching $44.43. 2,281,331 shares of the company’s stock traded hands, compared to its average volume of 4,410,981. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge has a 52 week low of $32.86 and a 52 week high of $45.78. The company’s 50 day simple moving average is $43.49 and its 200 day simple moving average is $42.50. The company has a market cap of $96.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

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

Institutional Investors Weigh In On Enbridge

A number of large investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC lifted its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge in the 4th quarter worth $29,000. Wintrust Investments LLC lifted its position in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at about $39,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.