Enbridge (NYSE:ENB) Rating Lowered to Sell at Wall Street Zen

by · The Markets Daily

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Zacks Research raised Enbridge from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Finally, Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Read Our Latest Stock Analysis on Enbridge

Enbridge Stock Performance

Shares of ENB opened at $48.39 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge has a one year low of $39.30 and a one year high of $48.59. The firm has a market capitalization of $105.51 billion, a P/E ratio of 23.84, a PEG ratio of 4.42 and a beta of 0.80. The business has a fifty day moving average of $45.93 and a 200 day moving average of $44.97.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. As a group, sell-side analysts anticipate that Enbridge will post 2.14 EPS for the current year.

Institutional Trading of Enbridge

Hedge funds have recently bought and sold shares of the stock. Dagco Inc. bought a new position in shares of Enbridge in the first quarter worth about $25,000. Garde Capital Inc. bought a new position in shares of Enbridge in the first quarter worth about $26,000. Whipplewood Advisors LLC boosted its stake in shares of Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge in the first quarter worth about $28,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of Enbridge in the second quarter worth about $29,000. Institutional investors own 54.60% of the company’s stock.

About Enbridge

(Get Free Report)

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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