Morgan Stanley Begins Coverage on Enbridge (NYSE:ENB)

Morgan Stanley initiated coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research note released on Friday morning, StockNewsAPI reports. The firm issued an equal weight rating on the pipeline company’s stock.

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

Shares of ENB stock opened at $40.88 on Friday. Enbridge has a one year low of $31.47 and a one year high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The firm’s 50 day moving average price is $40.63 and its 200-day moving average price is $37.81. The firm has a market cap of $87.22 billion, a P/E ratio of 20.75, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, equities research analysts predict that Enbridge will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Americana Partners LLC grew its holdings in Enbridge by 28.5% during the 3rd quarter. Americana Partners LLC now owns 176,778 shares of the pipeline company’s stock worth $7,179,000 after acquiring an additional 39,229 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Enbridge by 51.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,603 shares of the pipeline company’s stock valued at $65,000 after buying an additional 542 shares during the last quarter. Cigna Investments Inc. New raised its stake in Enbridge by 2.5% in the third quarter. Cigna Investments Inc. New now owns 40,632 shares of the pipeline company’s stock valued at $1,652,000 after buying an additional 1,003 shares in the last quarter. Tevis Investment Management lifted its holdings in Enbridge by 2.4% during the 3rd quarter. Tevis Investment Management now owns 65,867 shares of the pipeline company’s stock worth $2,675,000 after buying an additional 1,558 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its position in shares of Enbridge by 1.1% during the 3rd quarter. Financial Advocates Investment Management now owns 30,900 shares of the pipeline company’s stock worth $1,255,000 after acquiring an additional 340 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.