Why Enbridge Inc. (ENB) Stock Could See Much Higher Prices Ahead

Enbridge Inc. (NYSE: ENB) is 5.35% higher 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 $32.98 in the last trading session, with the day’s gains setting it 0.72% off its average median price target of $40.34 for the next 12 months. It is also 26.08% off the consensus price target high of $45.59 offered by 26 analysts, but current levels are -9.92% lower than the price target low of $30.66 for the same period.

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Currently trading at $33.70, the stock is 2.75% and 8.94% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.74 million and changing 2.18% at the moment leaves the stock 9.32% off its SMA200. ENB registered -15.56% loss for a year compared to 6-month gain of 13.89%. The firm has a 50-day simple moving average (SMA 50) of $32.20 and a 200-day simple moving average (SMA200) of $30.96.

The stock witnessed a 1.26% loss in the last 1 month and extending the period to 3 months gives it a 15.37%, and is 5.41% up 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 2.74% over the week and 2.01% over the month.

Enbridge Inc. (ENB) has around 11300 employees, a market worth around $67.95B and $32.47B in sales. Current P/E ratio is 44.46 and Fwd P/E is 16.15. Profit margin for the company is 4.70%. Distance from 52-week low is 49.31% and -21.90% 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 “Buy”. 26 analysts offering their recommendations for the stock have an average rating of 2.30, where 3 rate it as a Hold and 2 think it is a “Overweight”. 20 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 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.55 with sales reaching $10.14B over the same period.The EPS is expected to grow by 81.10% this year, but quarterly earnings will post 6.70% year-over-year. Quarterly sales are estimated to grow 15.60% in year-over-year returns.

Enbridge Inc. (ENB) Top Institutional Holders

1,281 institutions hold shares in Enbridge Inc. (ENB), with 3.12M shares held by insiders accounting for 0.15% while institutional investors hold 57.37% of the company’s shares. The shares outstanding are 2.03B, and float is at 2.02B with Short Float at 0.63%. Institutions hold 57.28% of the Float.

The top institutional shareholder in the company is Royal Bank of Canada with over 148.63 million shares valued at $4.34 billion. The investor’s holdings represent 7.34% of the ENB Shares outstanding. As of Sep 29, 2020, the second largest holder is Capital International Investors with 85.57 million shares valued at $2.5 billion to account for 4.23% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 66.51 million shares representing 3.28% and valued at over $1.94 billion, while Bank of Montreal/Can/ holds 2.53% of the shares totaling 51.14 million with a market value of $1.49 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.

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

The company’s main competitors (and peers) include Hess Corporation (HES) that is trading -10.74% down over the past 12 months. Enterprise Products Partners L.P. (EPD) is -25.59% down on the 1-year trading charts. Short interest in the company’s stock has fallen -37.97% from the last report on Nov 12, 2020 to stand at a total of 17.55 million short shares sold with a short interest ratio of 2.88.

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