Enbridge (NYSE:ENB) Hits New 52-Week High – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ENB. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Up 0.7 %

The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $43.48 and a 200 day moving average of $42.57. The firm has a market cap of $99.02 billion, a PE ratio of 26.42, a P/E/G ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during 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 quarter last year, the firm posted $0.64 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Enbridge

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. GQG Partners LLC raised its position in shares of Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after buying an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. boosted its stake in Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after buying an additional 1,040,799 shares during the period. Deutsche Bank AG grew its position in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Finally, Norges Bank bought a new position in Enbridge in the 4th quarter worth about $909,415,000. 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.