At the time of writing, Enbridge Inc [ENB] stock is trading at $36.02, up 0.50%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The ENB shares have gain 3.74% over the last week, with a monthly amount glided 4.86%, and seem to be holding up well over a long-time horizon.
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On 7, March 2024, Enbridge Completes Acquisition of The East Ohio Gas Company. In a post published today on Yahoo Finance, Enbridge Inc. (TSX: ENB) (NYSE: ENB) (“Enbridge” or the “Company”) announced today the closing of its acquisition of The East Ohio Gas Company (“EOG”) from Dominion Energy, Inc. The gas utility will be doing business as Enbridge Gas Ohio and will join Enbridge’s Gas Distribution and Storage Business Unit.
From an analyst’s perspective:
On October 25, 2023, downgrade downgraded it’s rating to Underweight. Wolfe Research downgraded its rating to a Underperform.
For the past year, the stock price of Enbridge Inc fluctuated between $31.03 and $40.30. Currently, Wall Street analysts expect the stock to reach $44.17 within the next 12 months. Enbridge Inc [NYSE: ENB] shares were valued at $36.02 at the most recent close of the market. An investor can expect a potential return of 22.63% based on the average ENB price forecast.
Analyzing the ENB fundamentals
According to Enbridge Inc [NYSE:ENB], the company’s sales were 31.76B for trailing twelve months, which represents an -15.32% plunge. Gross Profit Margin for this corporation currently stands at 0.5% with Operating Profit Margin at 0.2%, Pretax Profit Margin comes in at 0.18%, and Net Profit Margin reading is 0.15%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.1 and Total Capital is 0.05. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.32.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 35.82 points at the first support level, and at 35.61 for the second support level. However, for the 1st resistance point, the stock is sitting at 36.13, and for the 2nd resistance point, it is at 36.23.
Enbridge Inc [ENB] reported earnings per share of $0.47 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.5/share, meaning a difference of -$0.03 and a surprise factor of -6.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.46 per share as compared to estimates of $0.45 per share, a difference of $0.01 representing a surprise of 2.20%.
Ratios To Look Out For
It is important to note that Enbridge Inc [NYSE:ENB] has a current ratio of 0.83. As well, the Quick Ratio is 0.74, while the Cash Ratio is 0.34. Considering the valuation of this stock, the price to sales ratio is 2.41, the price to book ratio is 1.85 and price to earnings (TTM) ratio is 17.15.
