Enbridge Inc. (ENB): New Strategic Direction Makes It A Buy

Wall Street analysts will be watching closely when Enbridge Inc. (NYSE:ENB) reports its quarterly earnings next, which is scheduled for Fri 15 Feb (In 3 Days). Looking at the latest analyst forecasts, the current earnings-per-share (EPS) consensus estimate is sitting at $0.56 per share. In the preceding quarter, the company reportedly generated EPS of $0.55 per share of its common stock. Looking at profitability indicators, this organization has an operating margin of 0.70%, a profit margin of 3.40% and a gross margin of 35.20%.

Speaking of Wall Street analysts, a number of market experts at top investment banks have recently posted their updated ratings on shares of Enbridge Inc. (NYSE:ENB). Most recently, on February 8th, 2019, UBS Downgrade a Neutral rating. Before that, on January 24th, 2019, Macquarie Initiated to Outperform. Wells Fargo Upgrade a Outperform rating on November 6th, 2018, UBS Initiated an Buy rating on October 4th, 2018, and BofA/Merrill Upgrade a Buy rating on August 17th, 2018.

At its current price point, combined with the fact that this company has 2.08B shares outstanding, the current market capitalization sits at 74.05B. In the last trading day, 5,268,648 shares of Enbridge Inc. were traded, which compares to its usual volume of about 5.36M shares per day of trading.

If we compare this company’s current price to its recent pricing activity, we can see that the price has changed by -$1.96 in the past five trading days, resulting in a percentage change of -5.21% and a moving average of 36.51. In the past 20 days, its price changed by $0.87 (which is +2.50%) and the stock’s moving average was 36.31. Looking back a full 50 days, shares of ENB changed by $3.32 (which is +10.26%) and demonstrated a moving average of 33.81.

Staying in the same analytical area, this company’s stock has demonstrated a 9-day Stochastic %K score of 13.64%, a 14-day Stochastic %K score of 31.69% and a 20-day Stochastic %K score of 46.66%. Using a similar metric, Enbridge Inc. (ENB) shares showed a Stochastic %D of 35.24% over the past 9 days, a Stochastic %D score of 49.49% over the last 14 days, and a 20-day Stochastic %D of 62.55%. Meanwhile, this stock’s MACD Oscillator was -0.78 over the past 9 days, -0.55 over the past two weeks, and -0.29 in the last 20 days.

As recent trading data suggests, this company’s shares have been hovering close to the $35.67 level. Over the past 12 months, this stock has experienced a high price of $37.69 and a low of $28.82. Top market experts pay heightened attention to a stock as it is getting closer to a notable historic high price or low price.

Capital Research Management Co purchased more shares of this company during the last fiscal quarter, as we can observe in the latest corresponding filing from Enbridge Inc. (NYSE:ENB) with the Securities and Exchange Commission (SEC). This specific major shareholder, at the end of the quarter, held 101,014,233 shares of the company’s stock following the addition of 43,094,629 to this investor’s holdings during the three-month period. This share count represents that Capital Research Management Co now held 5.00% stake in Enbridge Inc. (ENB)’s shares.

Just in the most recent trading day, Enbridge Inc. (NYSE:ENB) experienced a high price of $36.62 and low point of $35.61. At the end of the last trading session, this stock was at 35.67 per share, following a gain of $0.32, or -1.74% during the full day.