Why has Enbridge Inc. (ENB) dropped -1.93% in last trading?

Enbridge Inc. (NYSE: ENB) is -24.31% lower on its value in year-to-date trading and has touched a low of $22.57 and a high of $43.15 in the current 52-week trading range. The ENB stock was last observed hovering at around $30.10 in the recent trading session, with the current loss setting it -0.58% off its average median price target of $37.78 for the next 12 months. It is also 35.87% off the consensus price target high of $46.03 offered by 26 analysts, but current levels are 1.44% higher than the price target low of $29.95 for the same period.

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At last check, trading at $29.52, the stock is -4.07% and -6.12% below its SMA20 and SMA50 respectively. However, with a current trading volume of 0.74 million and changing -1.93% at the moment leaves the stock -15.51% off its SMA200. ENB registered -17.67% loss for a year compared to 6-month loss of -24.26%. The firm has a 50-day simple moving average (SMA 50) of $31.52 and a 200-day simple moving average (SMA200) of $33.99.

The stock witnessed a -11.21% gain in the last 1 month and extending the period to 3 months gives it a 6.89%, and is -1.05% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.24% over the week and 2.56% over the month.

Enbridge Inc. (ENB) has around 11300 employees, a market worth around $60.52B and $36.24B in sales. Current P/E ratio is 41.29 and Fwd P/E is 14.94. Profit margin for the company is 4.10%. Distance from 52-week low is 30.79% and -31.59% from its 52-week high. The company has generated returns on investments over the last 12 months (5.30%).

Enbridge Inc. (ENB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Enbridge Inc. (ENB) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.30, where 4 rate it as a Hold and 2 think it is a “Overweight”. 19 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Enbridge Inc. is expected to release its quarterly report on 07/29/2020 and quarterly earnings per share for the current quarter are estimated at $0.44 with sales reaching $8.68B over the same period.The EPS is expected to grow by 81.10% this year, but quarterly earnings will post 22.20% year-over-year. Quarterly sales are estimated to grow 14.00% in year-over-year returns.

Enbridge Inc. (ENB) Top Institutional Holders

1,366 institutions hold shares in Enbridge Inc. (ENB), with 3.04M shares held by insiders accounting for 0.15% while institutional investors hold 59.65% of the company’s shares. The shares outstanding are 2.03B, and float is at 2.02B with Short Float at 0.36%. Institutions hold 59.56% of the Float.

The top institutional shareholder in the company is Capital International Investors with over 155.76 million shares valued at $4.53 billion. The investor’s holdings represent 7.69% of the ENB Shares outstanding. As of Mar 30, 2020, the second largest holder is Royal Bank of Canada with 142.62 million shares valued at $4.15 billion to account for 7.04% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 66.94 million shares representing 3.31% and valued at over $1.95 billion, while Bank of Montreal/Can/ holds 2.39% of the shares totaling 48.44 million with a market value of $1.41 billion.

Enbridge Inc. (ENB) Insider Activity

A total of 0 insider transactions have happened at Enbridge Inc. (ENB) in the last six months, with sales accounting for 0 and purchases happening 0 times.

Enbridge Inc. (ENB): Who are the competitors?

The company’s main competitors (and peers) include Hess Corporation (HES) that is trading -20.52% down over the past 12 months. Enterprise Products Partners L.P. (EPD) is -40.78% down on the 1-year trading charts. Short interest in the company’s stock has fallen -209.6% from the last report on May 14, 2020 to stand at a total of 22.57 million short shares sold with a short interest ratio of 2.08.

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