Enbridge Reaches New 52-Week High (ENB)

NEW YORK ( TheStreet) -- Enbridge (NYSE: ENB) hit a new 52-week high Friday as it is currently trading at $34.96, above its previous 52-week high of $34.72 with 600 shares traded as of 9:30 a.m. ET. Average volume has been 696,000 shares over the past 30 days.

Enbridge has a market cap of $26.4 billion and is part of the basic materials sector and energy industry. Shares are up 22.6% year to date as of the close of trading on Thursday.

Enbridge Inc. engages in the transportation and distribution of crude oil and natural gas primarily in Canada and the United States. Its Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGLs), and refined products pipelines and terminals. The company has a P/E ratio of 21.8, below the average energy industry P/E ratio of 22 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Enbridge as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Enbridge Ratings Report.

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