Zacks Research Downgrades Enbridge (NYSE:ENB) to Strong Sell

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada lifted their target price on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Trading Up 1.0%

ENB opened at $48.77 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock’s 50 day moving average price is $48.28 and its 200-day moving average price is $46.81. Enbridge has a one year low of $39.73 and a one year high of $50.54. The stock has a market cap of $106.37 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities analysts forecast that Enbridge will post 2.14 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Large investors have recently made changes to their positions in the business. Mutual Advisors LLC lifted its position in shares of Enbridge by 25.3% in the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock valued at $2,338,000 after acquiring an additional 10,488 shares in the last quarter. 111 Capital acquired a new position in Enbridge in the 2nd quarter valued at $1,887,000. Loudon Investment Management LLC lifted its holdings in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after purchasing an additional 8,600 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Enbridge by 37.7% during the 2nd quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after purchasing an additional 19,655 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Enbridge by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after purchasing an additional 32,268 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

About Enbridge

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.