Morgan Stanley Lowers Enbridge (ENB) Price Target to $38.00
Enbridge (NYSE:ENB) (TSE:ENB) had its target price cut by Morgan Stanley from $41.00 to $38.00 in a research report report published on Friday morning. They currently have an equal weight rating on the pipeline company’s stock.
Several other research firms also recently weighed in on ENB. GMP Securities downgraded Enbridge from a buy rating to a hold rating in a research report on Tuesday, October 17th. Canaccord Genuity reissued a buy rating and set a $54.00 target price on shares of Enbridge in a research report on Thursday, November 30th. Zacks Investment Research raised Enbridge from a sell rating to a hold rating in a research report on Wednesday, November 8th. Finally, Bank of America initiated coverage on Enbridge in a research report on Tuesday, January 9th. They set a neutral rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $51.25.
Enbridge (ENB) opened at $34.73 on Friday. The firm has a market capitalization of $58,880.00, a P/E ratio of 22.26, a PEG ratio of 3.09 and a beta of 0.56. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.06. Enbridge has a 12-month low of $33.26 and a 12-month high of $43.36.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spectrum Management Group Inc. bought a new position in Enbridge in the 3rd quarter valued at $113,000. Fieldpoint Private Securities LLC bought a new position in Enbridge in the 3rd quarter valued at $130,000. Taylor Hoffman Wealth Management bought a new position in Enbridge in the 4th quarter valued at $140,000. Valeo Financial Advisors LLC bought a new position in Enbridge in the 3rd quarter valued at $146,000. Finally, Field & Main Bank bought a new position in Enbridge in the 4th quarter valued at $149,000. 62.62% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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