Enbridge (TSE:ENB) Downgraded to Hold Rating by Jefferies Financial Group

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$76.00 price target on the stock, up from their previous price target of C$71.00. Jefferies Financial Group’s price target suggests a potential upside of 8.29% from the company’s previous close.

Several other research analysts have also commented on ENB. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and increased their price target for the stock from C$70.00 to C$72.00 in a research note on Tuesday. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. BMO Capital Markets raised their target price on Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. Raymond James Financial lifted their price target on shares of Enbridge from C$74.00 to C$76.00 in a research report on Monday, November 10th. Finally, National Bank Financial boosted their target price on shares of Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.31.

Enbridge Stock Down 4.3%

TSE:ENB traded down C$3.12 on Tuesday, hitting C$70.18. 6,281,935 shares of the company’s stock traded hands, compared to its average volume of 8,972,060. The company has a market cap of C$153.20 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm has a 50-day moving average price of C$66.00 and a 200-day moving average price of C$66.57. Enbridge has a 1 year low of C$56.51 and a 1 year high of C$73.71.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.88 EPS for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The business had revenue of C$17.18 billion for the quarter. Equities analysts anticipate that Enbridge will post 3.511912 EPS for the current fiscal year.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.