Enbridge Inc. [NYSE: ENB] stock went on an upward path that rose over 3.03% on Wednesday, amounting to a one-week price increase of more than 3.13%. The company report on May 4, 2022 that Enbridge Inc. Announces Election of Directors.
Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) held its Annual Meeting of Shareholders today. On a vote by ballot during the regular business proceedings at the meeting, shareholders approved the election of all 12 nominated directors proposed by management as listed in the Management Information Circular dated March 2, 2022.
Enbridge is pleased to welcome Jason B. Few and Steven W. Williams to the Board. Mr. Few has more than 30 years of experience as a business leader, entrepreneur and technology leader focusing on energy and energy transition. He is currently President & CEO of FuelCell Energy, Inc. Mr. Williams has more than 40 years of international energy industry experience, including as President & CEO of Suncor Energy Inc. from 2012 to 2019 and various roles during 18 years at Imperial Oil/Exxon.
Over the last 12 months, ENB stock rose by 13.14%. The one-year Enbridge Inc. stock forecast points to a potential downside of -3.27. The average equity rating for ENB stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $93.46 billion, with 2.02 billion shares outstanding and 2.02 billion shares in the current float. Compared to the average trading volume of 4.47M shares, ENB stock reached a trading volume of 4975400 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $43.76 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.
Scotiabank have made an estimate for Enbridge Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on February 14, 2022. The new note on the price target was released on January 07, 2022, representing the official price target for Enbridge Inc. stock.
The Average True Range (ATR) for Enbridge Inc. is set at 0.87, with the Price to Sales ratio for ENB stock in the period of the last 12 months amounting to 2.54. The Price to Book ratio for the last quarter was 2.21, with the Price to Cash per share for the same quarter was set at 0.11.
ENB Stock Performance Analysis:
Enbridge Inc. [ENB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.13. With this latest performance, ENB shares dropped by -3.09% in over the last four-week period, additionally plugging by 7.26% over the last 6 months – not to mention a rise of 13.14% 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 51.68, with the RSI for the last a single of trading hit 53.75, and the three-weeks RSI is set at 52.09 for Enbridge Inc. [ENB]. The present Moving Average for the last 50 days of trading for this stock 44.94, while it was recorded at 44.15 for the last single week of trading, and 41.39 for the last 200 days.
Insight into Enbridge Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Enbridge Inc. [ENB] shares currently have an operating margin of +15.87 and a Gross Margin at +30.22. Enbridge Inc.’s Net Margin is presently recorded at +13.22.
Return on Equity for this stock inclined to 10.13, with Return on Assets sitting at 3.76.
Enbridge Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.50.
ENB Stock EPS
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 9.25%.
Enbridge Inc. [ENB] Insider Position Details
There are presently around $43,207 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 163,065,859, which is approximately 0.738% of the company’s market cap and around 9.20% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 77,029,978 shares of the stock with an approximate value of $3.38 billion in ENB stocks shares; and VANGUARD GROUP INC, currently with $2.93 billion in ENB stock with ownership of nearly 2.512% of the company’s market capitalization.
Positions in Enbridge Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 617 institutional holders increased their position in Enbridge Inc. [NYSE:ENB] by around 87,795,805 shares. Additionally, 437 investors decreased positions by around 105,325,214 shares, while 209 investors held positions by with 791,995,806 shares. The mentioned changes placed institutional holdings at 985,116,825 shares, according to the latest SEC report filing. ENB stock had 147 new institutional investments in for a total of 29,175,257 shares, while 87 institutional investors sold positions of 4,230,004 shares during the same period.