RBC Global Asset Management, Inc. has recently announced that it has increased stake in Enbridge Inc. (NYSE:ENB) by 1.25%. After grabbing 119.39 million shares, the institutional investor is now in possession of 1.47 million shares of the Energy Company. The new investment brought the stake of investor firm to 5.89% having worth around $4.65 billion. Moreover, GQG Partners LLC increased its share by 4.38 million to have a control over 56.23 million shares. And The Vanguard Group, Inc. raised its holdings to 1.32 million shares by acquiring 48.47 million shares or 2.39% of the stake.
Enbridge Inc. (ENB) concluded trading on 11/23/22 at a closing price of $41.45, with 2.86 million shares of worth about $118.37 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -8.09% during that period and on Wednesday the price saw a gain of about 1.07%. Currently the company’s common shares owned by public are about 2.02B shares, out of which, 2.02B shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the ENB stock and their offered price forecasts bring an average price target of $43.18. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $48.05 and could fall to a lowest price of $39.86. The stock’s current price level is 7.13% above of average price target set by the analysts, while a rise to estimated low would result in loss of -3.99% for the stock. However, touching the estimated high of $48.05 would mean a gain of 13.74% for the stock.
ClearBridge Developed Markets Inf, Vanguard Total International Stoc, and Goldman Sachs GQG Partners Intern are the top 3 mutual funds which are holding stakes in Enbridge Inc. ClearBridge Developed Markets Inf is currently holding 31.67 million shares of worth totaling $1.23 billion. The company recently came buying 0.46 million shares which brought its stake up to 1.56% of the company’s outstanding shares. Vanguard Total International Stoc bought 12893.0 shares, after which its hold over company’s outstanding shares expand to 1.33%, leaving 26.99 million shares with the mutual fund that have a worth of about $1.05 billion. Goldman Sachs GQG Partners Intern, after buying 22.24 million shares, have now control over 1.10% of the stake in the company. It holds 2.38 million shares of worth $866.34 million.
Enbridge Inc. (NYSE: ENB) started trading at $40.88, below -$0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 41.49, or with a gain of 1.07%. Stock saw a price change of 2.52% in past 5 days and over the past one month there was a price change of 8.71%. Year-to-date (YTD), ENB shares are showing a performance of 6.06% which increased to 4.12% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $35.02 but also hit the highest price of $47.67 during that period. The average intraday trading volume for Enbridge Inc. shares is 3.61 million. The stock is currently trading 3.96% above its 20-day simple moving average (SMA20), while that difference is up 6.53% for SMA50 and it goes to -2.69% lower than SMA200.
RBC Global Asset Management, Inc. acquired 119.39 million shares of Enbridge Inc. having value of about $4.65 billion. Data submitted at the U.S SEC by RBC Global Asset Management, Inc. revealed that the firm now holds 1.47 million shares in the company valued at close to $61039228.55, or have control over 1.25% stake in the company. Enbridge Inc. (NYSE: ENB) currently have 2.02B outstanding shares and institutions hold larger chunk of about 70.50% of that. Holding of mutual funds in the company is about 20.38% while other institutional holders and individual stake holders have control over 31.81% and 0.16% of the stake respectively.
The stock has a current market capitalization of $83.77B and its 3Y-monthly beta is at 0.82. PE ratio of stock for trailing 12 months is 20.38, while it has posted earnings per share of $2.03 in the same period. Its PEG reads 4.97 and has Quick Ratio of 0.50 while making debt-to-equity ratio of 1.42. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ENB, volatility over the week remained 1.46% while standing at 1.89% over the month.
Analysts are in expectations that Enbridge Inc. (ENB) stock would likely to be making an EPS of $0.48 in the current quarter, while forecast for next quarter EPS is $0.57 and it is $2.3 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.45 which is $0.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.47 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 94.60% while it is estimated to increase by 5.71% in next year. EPS is likely to shrink at an annualized rate of 4.10% for next 5-years, compared to annual growth of 8.20% made by the stock over the past 5-years.
Analysts at 22 brokerage firms have issued recommendations for the Enbridge Inc. (ENB)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 22 Wall Street analysts, 9 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
On February 14, 2022, Scotiabank Downgrade their recommendations, while on January 07, 2022, Morgan Stanley Downgrade their ratings for the stock with a price target of $60. Stock get a Neutral rating from Credit Suisse on October 25, 2021.