RBC Global Asset Management, Inc. has recently announced that it has increased stake in Enbridge Inc (NYSE:ENB) by 4.32%. After grabbing 99.87 million shares, the institutional investor is now in possession of 4.13 million shares of the Energy Company. The new investment brought the stake of investor firm to 4.70% having worth around $3.48 billion. Moreover, 1832 Asset Management LP increased its share by 5.97 million to have a control over 75.15 million shares. And The Vanguard Group, Inc. raised its holdings to 2.54 million shares by acquiring 52.25 million shares or 2.46% of the stake.
Enbridge Inc (ENB) concluded trading on 01/04/24 at a closing price of $36.50, with 5.69 million shares of worth about $207.67 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.61% during that period and on Thursday the price saw a gain of about 0.08%. Currently the company’s common shares owned by public are about 2.13B shares, out of which, 2.12B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the ENB stock and their offered price forecasts bring an average price target of $52.76. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $61.00 and could fall to a lowest price of $43.00. The stock’s current price level is 6.58% above of average price target set by the analysts, while a rise to estimated low would result in gain of 15.12% for the stock. However, touching the estimated high of $61.00 would mean a gain of 40.16% for the stock.
Vanguard Total International Stoc, RBC Canadian Dividend Fund, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Enbridge Inc Vanguard Total International Stoc is currently holding 28.67 million shares of worth totaling $999.8 million. The company recently came buying 0.2 million shares which brought its stake up to 1.35% of the company’s outstanding shares. RBC Canadian Dividend Fund bought 39454.0 shares, after which its hold over company’s outstanding shares expand to 0.85%, leaving 18.09 million shares with the mutual fund that have a worth of about $630.77 million. Government Pension Fund – Global, after buying 18.0 million shares, have now control over 0.85% of the stake in the company. It holds 1.16 million shares of worth $627.63 million.
Enbridge Inc (NYSE: ENB) started trading at $36.65, above $0.18 from concluding price of the previous day. However, the stock later moved at a day high price of 36.89, or with a gain of 0.08%. Stock saw a price change of 0.52% in past 5 days and over the past one month there was a price change of 3.84%. Year-to-date (YTD), ENB shares are showing a performance of 1.33% which decreased to -6.48% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $31.03 but also hit the highest price of $42.11 during that period. The average intraday trading volume for Enbridge Inc shares is 5.49 million. The stock is currently trading 2.54% above its 20-day simple moving average (SMA20), while that difference is up 6.49% for SMA50 and it goes to 1.84% higher than SMA200.
RBC Global Asset Management, Inc. acquired 99.87 million shares of Enbridge Inc having value of about $3.48 billion. Data submitted at the U.S SEC by RBC Global Asset Management, Inc. revealed that the firm now holds 4.13 million shares in the company valued at close to $150848514.0, or have control over 4.32% stake in the company. Enbridge Inc (NYSE: ENB) currently have 2.13B outstanding shares and institutions hold larger chunk of about 53.34% of that. Holding of mutual funds in the company is about 24.03% while other institutional holders and individual stake holders have control over 30.09% and 0.15% of the stake respectively.
The stock has a current market capitalization of $77.58B and its 3Y-monthly beta is at 0.85. PE ratio of stock for trailing 12 months is 32.70, while it has posted earnings per share of $1.12 in the same period. Its PEG reads 65.41 and has Quick Ratio of 0.57 while making debt-to-equity ratio of 1.19. 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 1.05% while standing at 1.21% over the month.
Analysts are in expectations that Enbridge Inc (ENB) stock would likely to be making an EPS of $ENBRIDGE INC in the current quarter, while forecast for next quarter EPS is $48.79 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $89bio, Inc. which is $F.N.B. Corporation 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 $ENBRIDGE INC 4.40% CUM RED PRF in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -0.96% while it is estimated to decrease by -1.76% in next year. EPS is likely to grow at an annualized rate of 0.50% for next 5-years, compared to annual growth of -5.14% made by the stock over the past 5-years.
Analysts at 20 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 2.25. Out of those 20 Wall Street analysts, 8 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
