Enbridge Inc. [NYSE: ENB] gained 0.36% or 0.13 points to close at $35.75 with a heavy trading volume of 6549470 shares. The company report on February 22, 2021 that EDF Renewables, Enbridge and wpd launch construction of the Calvados offshore wind farm.
EDF Renewables, a subsidiary of the EDF Group, EIH S.à r.l, a subsidiary of Enbridge Inc. (TSX: ENB) (NYSE: ENB), a North American energy infrastructure company, and wpd, a European renewable energies company, are announcing the launch of construction activity on the Calvados offshore wind farm (Courseulles-sur-Mer). This announcement follows the finalisation of financing agreements between the consortium and its financial partners.
The 448-MW Calvados offshore wind project is comprised of 64 wind turbines located more than 10km from the Bessin coastline and occupies a total surface area of approximately 45km². Upon its commissioning, scheduled in 2024, it will generate the equivalent of the annual electricity consumption of 630,000 people, or over 90% of the Calvados French department’s population.
It opened the trading session at $35.63, the shares rose to $35.915 and dropped to $35.255, the range by which the price of stock traded the whole day. The daily chart for ENB points out that the company has recorded 8.99% gains over the past six months. However, it is still -58.4% lower than its most recent low trading price.
If we look at the average trading volume of 4.81M shares, ENB reached to a volume of 6549470 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Enbridge Inc. [ENB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENB shares is $41.66 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENB stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Enbridge Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 13, 2020. The new note on the price target was released on July 22, 2020, representing the official price target for Enbridge Inc. stock.
The Average True Range (ATR) for Enbridge Inc. is set at 0.70, with the Price to Sales ratio for ENB stock in the period of the last 12 months amounting to 2.33. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 0.18.
Trading performance analysis for ENB stock
Enbridge Inc. [ENB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.56. With this latest performance, ENB shares gained by 3.38% in over the last four-week period, additionally plugging by 8.99% over the last 6 months – not to mention a drop of -10.33% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENB stock in for the last two-week period is set at 60.95, with the RSI for the last a single of trading hit 63.93, and the three-weeks RSI is set at 59.83 for Enbridge Inc. [ENB]. The present Moving Average for the last 50 days of trading for this stock 34.02, while it was recorded at 35.11 for the last single week of trading, and 31.74 for the last 200 days.
Enbridge Inc. [ENB]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Enbridge Inc. [ENB] shares currently have an operating margin of +19.38 and a Gross Margin at +36.75. Enbridge Inc.’s Net Margin is presently recorded at +8.65.
Return on Total Capital for ENB is now 5.64, given the latest momentum, and Return on Invested Capital for the company is 2.68. Return on Equity for this stock inclined to 5.28, with Return on Assets sitting at 2.08. When it comes to the capital structure of this company, Enbridge Inc. [ENB] has a Total Debt to Total Equity ratio set at 110.25. Additionally, ENB Total Debt to Total Capital is recorded at 52.44, with Total Debt to Total Assets ending up at 42.21. Long-Term Debt to Equity for the company is recorded at 118.43, with the Long-Term Debt to Total Capital now at 49.22.
Reflecting on the efficiency of the workforce at the company, Enbridge Inc. [ENB] managed to generate an average of $300,268 per employee. Receivables Turnover for the company is 6.39 with a Total Asset Turnover recorded at a value of 0.24.Enbridge Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.50.
Enbridge Inc. [ENB]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Enbridge Inc. posted 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ENB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Enbridge Inc. go to 7.53%.
An analysis of insider ownership at Enbridge Inc. [ENB]
There are presently around $37,108 million, or 70.50% of ENB stock, in the hands of institutional investors. The top three institutional holders of ENB stocks are: ROYAL BANK OF CANADA with ownership of 154,856,490, which is approximately 4.192% of the company’s market cap and around 9.20% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 76,667,382 shares of the stock with an approximate value of $2.74 billion in ENB stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.47 billion in ENB stock with ownership of nearly 35.072% of the company’s market capitalization.
Positions in Enbridge Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 435 institutional holders increased their position in Enbridge Inc. [NYSE:ENB] by around 72,037,445 shares. Additionally, 471 investors decreased positions by around 92,439,741 shares, while 154 investors held positions by with 873,519,271 shares. The mentioned changes placed institutional holdings at 1,037,996,457 shares, according to the latest SEC report filing. ENB stock had 133 new institutional investments in for a total of 6,498,436 shares, while 55 institutional investors sold positions of 2,812,129 shares during the same period.