Enbridge Inc (ENB) Sees Large Decline in Short Interest
Enbridge Inc (NYSE:ENB) (TSE:ENB) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 24,506,277 shares, a decrease of 10.7% from the February 15th total of 27,432,950 shares. Based on an average trading volume of 4,255,315 shares, the short-interest ratio is presently 5.8 days.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, February 5th. Wolfe Research upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. Evercore ISI assumed coverage on Enbridge in a research report on Tuesday, February 5th. They set an “outperform” rating for the company. Scotiabank downgraded Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Finally, Macquarie assumed coverage on Enbridge in a research report on Thursday, January 24th. They set an “outperform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $46.46.
Shares of NYSE:ENB opened at $37.05 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.58. Enbridge has a 12-month low of $28.82 and a 12-month high of $37.69. The firm has a market cap of $74.59 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.29 and a beta of 0.70.
In related news, insider Cynthia L. Hansen acquired 801 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $43.93 per share, for a total transaction of $35,187.93. Following the transaction, the insider now owns 105,423 shares of the company’s stock, valued at $4,631,232.39. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Hansen acquired 799 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were bought at an average price of $49.13 per share, with a total value of $39,254.87. Following the transaction, the insider now directly owns 105,423 shares in the company, valued at approximately $5,179,431.99. The disclosure for this purchase can be found here. Insiders have bought a total of 9,406 shares of company stock valued at $459,513 in the last quarter. Insiders own 0.48% of the company’s stock.
A number of large investors have recently made changes to their positions in ENB. Parkside Financial Bank & Trust raised its stake in Enbridge by 58.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares during the period. Front Row Advisors LLC raised its stake in Enbridge by 3,985.7% during the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 837 shares during the period. Csenge Advisory Group acquired a new position in shares of Enbridge in the third quarter worth $28,000. Rockland Trust Co. acquired a new position in shares of Enbridge in the fourth quarter worth $28,000. Finally, We Are One Seven LLC acquired a new position in shares of Enbridge in the fourth quarter worth $28,000. 55.98% of the stock is currently owned by institutional investors.
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Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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