Enbridge (NYSE:ENB) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Enbridge (NYSE:ENB) (TSE:ENB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Stock Up 0.0%

Shares of Enbridge stock opened at $54.16 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The company has a 50-day moving average of $52.46 and a 200 day moving average of $49.41. The firm has a market cap of $118.20 billion, a price-to-earnings ratio of 23.55 and a beta of 0.63. Enbridge has a 1 year low of $39.73 and a 1 year high of $55.44.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, sell-side analysts anticipate that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

Several institutional investors have recently added to or reduced their stakes in the business. Tsfg LLC lifted its holdings in shares of Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares in the last quarter. Triumph Capital Management bought a new stake in Enbridge in the 3rd quarter worth about $26,000. Highline Wealth Partners LLC increased its holdings in Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. bought a new stake in Enbridge in the 3rd quarter worth about $28,000. Finally, Inspire Investing LLC bought a new stake in Enbridge in the 4th quarter worth about $29,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.