Market cap of Enbridge Inc. [ENB] reaches 83.77B – now what?

Enbridge Inc. [NYSE: ENB] price surged by 1.07 percent to reach at $0.44. The company report on November 23, 2022 that EDF Renewables, Enbridge and CPP Investments Announce France’s First Offshore Wind Project, Saint-Nazaire, is Now Fully Operational.


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EDF Renewables and EIH S.à.r.l, a subsidiary of Enbridge Inc. (TSX: ENB) (NYSE: ENB) and CPP Investments, have achieved a significant milestone as France’s first commercial-scale offshore wind project, the 480-megawatt Saint-Nazaire Offshore Wind Farm, is now fully operational. Located between 12 and 20 km from the southwest coast of France, the wind farm will help support the French State’s energy transition goals, which include targets to generate 32% of its energy from renewable sources by 2030. By providing secure, low carbon, affordable and reliable energy, Saint-Nazaire is also responding to the global energy challenge at a crucial time. The wind farm will produce the equivalent of 20% of the Loire-Atlantique’s annual electricity consumption and supply the equivalent of the consumption of 700,000 people with electricity every year. To celebrate this milestone, an inauguration will take place today in Saint-Nazaire, France.

After nearly three years of construction, the Saint-Nazaire Offshore Wind Farm first produced electricity at the beginning of June 2022 and proceeded to incrementally connect its 80 wind turbines to the national electricity transmission network. About one hundred people will continue to be employed at the site to help ensure the operation and maintenance of the wind farm in La Turballe, France.

A sum of 2855616 shares traded at recent session while its average daily volume was at 3.61M shares. Enbridge Inc. shares reached a high of $41.49 and dropped to a low of $40.80 until finishing in the latest session at $41.45.

The one-year ENB stock forecast points to a potential upside of 7.13. The average equity rating for ENB stock is currently 2.30, trading closer to a bullish pattern in the stock market.

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 $44.63 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.

National Bank Financial have made an estimate for Enbridge Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on November 07, 2022. The new note on the price target was released on September 12, 2022, representing the official price target for Enbridge Inc. stock.

The Average True Range (ATR) for Enbridge Inc. is set at 0.85, with the Price to Sales ratio for ENB stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 0.38.

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 2.52. With this latest performance, ENB shares gained by 8.71% in over the last four-week period, additionally sinking by -8.09% over the last 6 months – not to mention a rise of 4.12% 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 62.13, with the RSI for the last a single of trading hit 66.28, and the three-weeks RSI is set at 58.48 for Enbridge Inc. [ENB]. The present Moving Average for the last 50 days of trading for this stock 38.90, while it was recorded at 40.67 for the last single week of trading, and 42.59 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 0.50 and a Current Ratio set at 0.60.

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 4.10%.

Enbridge Inc. [ENB] Insider Position Details

There are presently around $42,192 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 160,175,676, which is approximately 1.481% of the company’s market cap and around 9.20% of the total institutional ownership; VANGUARD GROUP INC, holding 73,349,925 shares of the stock with an approximate value of $3.04 billion in ENB stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.72 billion in ENB stock with ownership of nearly -6.236% 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 538 institutional holders increased their position in Enbridge Inc. [NYSE:ENB] by around 39,294,427 shares. Additionally, 488 investors decreased positions by around 37,907,386 shares, while 242 investors held positions by with 940,708,049 shares. The mentioned changes placed institutional holdings at 1,017,909,862 shares, according to the latest SEC report filing. ENB stock had 57 new institutional investments in for a total of 5,673,611 shares, while 94 institutional investors sold positions of 4,378,948 shares during the same period.

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