Enbridge Inc. [ENB] is -4.45% lower this YTD. Is it still time to buy?

Enbridge Inc. [NYSE: ENB] closed the trading session at $37.34 on 10/18/22. The day’s price range saw the stock hit a low of $36.751, while the highest price level was $37.67. The company report on October 18, 2022 that Enbridge Announces Al Monaco’s Retirement; Names Greg Ebel as President and CEO.


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– Enbridge Inc. (TSX:ENB) (NYSE:ENB)(Enbridge or the Company) recently announced Al Monaco’s retirement as President and Chief Executive Officer and from its Board of Directors effective January 1, 2023. Concurrent with this announcement and after considering internal and external candidates, the Board of Directors has appointed Greg Ebel, currently Board Chair, to succeed Mr. Monaco as President and Chief Executive Officer. Mr. Ebel will also continue as a member of the Board of Directors. A new independent Board Chair will be named prior to January 1, 2023. To support Mr. Ebel through the transition, Mr. Monaco will serve as an advisor to March 1, 2023.

“On behalf of the Board, I would like to thank Al for his invaluable and bold leadership over the last decade as CEO, and throughout his 27 years with Enbridge,” said Greg Ebel. “Al has led Enbridge through a period of unprecedented growth, repositioning the business as a leader across four blue chip platforms, strengthening its low-risk pipeline utility model and driving consistent financial performance, dividend increases, and organic growth. Under his leadership, Enbridge strategically expanded its liquids pipeline business into the U.S. gulf coast, executed the successful $37 billion merger with Spectra Energy, built out its crude oil and LNG export capabilities and accelerated its renewable energy and low-carbon growth.

The stocks have a year to date performance of -4.45 percent and weekly performance of 3.64 percent. The stock has been moved at -19.56 percent over the last six months. The stock has performed -9.70 percent around the most recent 30 days and changed -13.32 percent over the most recent 3-months.

If compared to the average trading volume of 3.28M shares, ENB reached to a volume of 4207159 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $44.01 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 2.20. 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.

Raymond James have made an estimate for Enbridge Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 12, 2022. The new note on the price target was released on February 14, 2022, representing the official price target for Enbridge Inc. stock. Previously, the target price had yet another raise to $60, while Morgan Stanley analysts kept a Equal-Weight rating on ENB stock.

The Average True Range (ATR) for Enbridge Inc. is set at 1.14, with the Price to Sales ratio for ENB stock in the period of the last 12 months amounting to 2.04. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 0.37.

ENB stock trade performance evaluation

Enbridge Inc. [ENB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.64. With this latest performance, ENB shares dropped by -9.70% in over the last four-week period, additionally sinking by -19.56% over the last 6 months – not to mention a drop of -12.45% 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 44.50, with the RSI for the last a single of trading hit 47.89, and the three-weeks RSI is set at 43.13 for Enbridge Inc. [ENB]. The present Moving Average for the last 50 days of trading for this stock 40.58, while it was recorded at 36.62 for the last single week of trading, and 42.84 for the last 200 days.

Enbridge Inc. [ENB]: An insightful look at the core 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 0.50 and a Current Ratio set at 0.60.

Earnings per share (EPS) analysis for Enbridge Inc. [ENB] stock

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 8.40%.

Enbridge Inc. [ENB]: Insider Ownership positions

There are presently around $37,869 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 157,837,492, which is approximately 2.281% of the company’s market cap and around 9.20% of the total institutional ownership; VANGUARD GROUP INC, holding 70,859,995 shares of the stock with an approximate value of $2.65 billion in ENB stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.61 billion in ENB stock with ownership of nearly -10.299% of the company’s market capitalization.

Positions in Enbridge Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 580 institutional holders increased their position in Enbridge Inc. [NYSE:ENB] by around 55,544,643 shares. Additionally, 454 investors decreased positions by around 44,205,714 shares, while 246 investors held positions by with 914,424,418 shares. The mentioned changes placed institutional holdings at 1,014,174,775 shares, according to the latest SEC report filing. ENB stock had 107 new institutional investments in for a total of 5,999,995 shares, while 72 institutional investors sold positions of 6,489,524 shares during the same period.

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