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

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

A number of other research firms have also commented on ENB. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Stock Performance

Shares of ENB opened at $49.21 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $107.31 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 4.52 and a beta of 0.80. The stock has a 50 day moving average of $47.22 and a 200 day moving average of $45.70. Enbridge has a 12 month low of $39.73 and a 12 month high of $49.60.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating 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 business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, sell-side analysts forecast that Enbridge will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after acquiring an additional 25,071 shares during the last quarter. Hartline Investment Corp lifted its stake in shares of Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock valued at $1,600,000 after acquiring an additional 8,610 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Enbridge by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company’s stock valued at $48,806,000 after acquiring an additional 7,890 shares during the last quarter. JBR Co Financial Management Inc bought a new stake in shares of Enbridge in the 1st quarter valued at about $330,000. Finally, Raymond James Financial Inc. lifted its stake in shares of Enbridge by 0.8% in the 1st quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company’s stock valued at $190,532,000 after acquiring an additional 35,515 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Company Profile

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.