This morning we watched Enbridge rise 1.3% to a price of $37.09 per share. The large-cap Oil & Gas Transportation and Processing company is now trading -6.47% below its average target price of $39.66. Analysts have set target prices ranging from $34.0 to $43.35 per share for Enbridge, and have given the stock an average rating of hold.
The stock has a very low short interest at 1.2%, and a short ratio of 5.43. The company's insiders own 0.15% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 55.1% of Enbridge's shares being owned by this investor type.
Institutions Invested in Enbridge
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Royal Bank of Canada | 7% | 152,143,121 | $5,643,749,259 |
| 2023-09-30 | Vanguard Group Inc | 4% | 81,491,857 | $3,022,940,534 |
| 2023-09-30 | Bank of Montreal/Can/ | 3% | 69,557,729 | $2,580,244,042 |
| 2023-09-30 | Deutsche Bank Aktiengesellschaft | 2% | 34,811,225 | $1,291,322,433 |
| 2023-09-30 | 1832 Asset Management L.P. | 2% | 34,442,344 | $1,277,638,792 |
| 2023-09-30 | Wellington Management Group, LLP | 2% | 32,531,108 | $1,206,741,490 |
| 2023-09-30 | TD Asset Management, Inc | 1% | 30,213,082 | $1,120,754,313 |
| 2023-09-30 | Cibc World Markets, Inc. | 1% | 28,488,996 | $1,056,799,341 |
| 2023-09-30 | Bank Of Nova Scotia / | 1% | 28,085,040 | $1,041,814,593 |
| 2023-09-30 | Mackenzie Financial Corporation | 1% | 22,523,066 | $835,493,160 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Enbridge.
