Enbridge Inc. [ENB] is 17.58% higher this YTD. Is it still time to buy?


Enbridge Inc. [NYSE: ENB] loss -0.43% or -0.2 points to close at $45.95 with a heavy trading volume of 5969831 shares. The company report on May 26, 2022 that ENBRIDGE ADVANCING CONSTRUCTION OF NATURAL GAS PIPELINE TO VENTURE GLOBAL’S PLAQUEMINES LNG FACILITY.

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Enbridge to provide transportation capacity via two Texas Eastern Transmission, LP projects to Venture Global’s recently sanctioned Plaquemines LNG facility.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) is pleased to announce the advancement of its Venice Extension Project and Gator Express Meter Project to deliver 1.5 billion cubic feet per day of natural gas to Venture Global’s Plaquemines LNG facility located in Plaquemines Parish, LA.

It opened the trading session at $46.53, the shares rose to $46.64 and dropped to $45.905, the range by which the price of stock traded the whole day. The daily chart for ENB points out that the company has recorded 22.40% gains over the past six months. However, it is still -26.9% lower than its most recent low trading price.

If we look at the average trading volume of 4.22M shares, ENB reached to a volume of 5969831 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 $46.15 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 0.99, with the Price to Sales ratio for ENB stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 2.17, with the Price to Cash per share for the same quarter was set at 0.16.

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 2.16. With this latest performance, ENB shares gained by 5.80% in over the last four-week period, additionally plugging by 22.40% over the last 6 months – not to mention a rise of 18.12% 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 58.87, with the RSI for the last a single of trading hit 63.74, and the three-weeks RSI is set at 56.55 for Enbridge Inc. [ENB]. The present Moving Average for the last 50 days of trading for this stock 45.22, while it was recorded at 45.85 for the last single week of trading, and 41.90 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 +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 0.60 and a Current Ratio set at 0.70.

Enbridge Inc. [ENB]: An earnings per share (EPS) analysis

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 10.00%.

An analysis of insider ownership at Enbridge Inc. [ENB]

There are presently around $46,205 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 154,318,234, which is approximately -5.364% of the company’s market cap and around 9.20% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 78,030,080 shares of the stock with an approximate value of $3.6 billion in ENB stocks shares; and VANGUARD GROUP INC, currently with $3.19 billion in ENB stock with ownership of nearly 3.737% 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 620 institutional holders increased their position in Enbridge Inc. [NYSE:ENB] by around 94,922,359 shares. Additionally, 453 investors decreased positions by around 81,852,360 shares, while 224 investors held positions by with 824,423,905 shares. The mentioned changes placed institutional holdings at 1,001,198,624 shares, according to the latest SEC report filing. ENB stock had 122 new institutional investments in for a total of 5,012,657 shares, while 99 institutional investors sold positions of 4,424,233 shares during the same period.