Why Is ENB Falling Today?

Enbridge stock is trading -21.79% below its average target price of $40.9 after dropping -1.8% during today's afternoon session. Analysts are giving the large-cap Oil & Gas Transportation and Processing company an average rating of buy and target prices ranging from $31.99 to $47.0 per share.

Enbridge's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.9%. The stock's short ratio is 5.88. The company's insiders own 0.16% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 53.7%. In conclusion, we believe there is mixed market sentiment regarding Enbridge.

Institutions Invested in Enbridge

Date Reported Holder Percentage Shares Value
2023-06-30 Royal Bank of Canada 7% 150,217,120 $4,805,430,735
2023-06-30 Vanguard Group Inc 4% 77,091,009 $2,466,133,714
2023-06-30 Bank of Montreal/Can/ 3% 64,606,644 $2,066,760,118
2023-06-30 Deutsche Bank Aktiengesellschaft 2% 38,701,623 $1,238,061,072
2023-06-30 1832 Asset Management L.P. 1% 30,213,371 $966,522,734
2023-06-30 TD Asset Management, Inc 1% 29,549,025 $945,270,372
2023-06-30 Bank Of Nova Scotia / 1% 26,731,287 $855,131,213
2023-06-30 Cibc World Markets, Inc. 1% 23,214,406 $742,626,540
2023-06-30 Mackenzie Financial Corporation 1% 19,766,987 $632,343,949
2023-06-30 CIBC Asset Management Inc. 1% 18,616,583 $595,542,639
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.