Zacks Investment Research cut shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

According to Zacks, “Enbridge’s huge debt load is a matter of concern. As of Jun 30, 2017, Enbridge had long-term debt of $46,170 million, as against cash balance of only $1,583 million, reflecting significant balance sheet weakness. The company also lost 6.1% value in the last six months, significantly underperforming the industry’s loss of 5.7% during the aforesaid period.  The lowest investment grade ratings by  credit rating agencies Standard and Poor’s & Moody’s is a matter of serious concern. Moreover, Enbridge is facing pressure on top line. Over the past three years (2014–2016), total revenues declined at a CAGR of 13.6%.”

Other equities research analysts also recently issued research reports about the company. Morgan Stanley reaffirmed an equal weight rating and set a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. GMP Securities downgraded Enbridge from a buy rating to a hold rating in a report on Tuesday, October 17th. Finally, BidaskClub raised Enbridge from a strong sell rating to a sell rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $56.00.

Enbridge (ENB) traded down $1.63 during trading on Tuesday, hitting $36.69. 2,784,499 shares of the company were exchanged, compared to its average volume of 2,304,192. The company has a current ratio of 0.71, a quick ratio of 0.61 and a debt-to-equity ratio of 1.01. The company has a market cap of $60.42 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 2.22 and a beta of 0.65.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Enbridge had a return on equity of 6.08% and a net margin of 7.49%. The company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter last year, the company earned $0.47 earnings per share. analysts predict that Enbridge will post 1.65 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.474 dividend. This represents a $1.90 annualized dividend and a yield of 5.17%. The ex-dividend date is Tuesday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is currently 123.90%.

A number of hedge funds and other institutional investors have recently modified their holdings of ENB. Monroe Bank & Trust MI acquired a new stake in Enbridge in the first quarter worth about $105,000. NEXT Financial Group Inc raised its stake in shares of Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 411 shares during the last quarter. First Personal Financial Services raised its stake in shares of Enbridge by 16.4% in the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 397 shares during the last quarter. Welch Group LLC purchased a new position in shares of Enbridge in the second quarter worth about $121,000. Finally, San Francisco Sentry Investment Group CA purchased a new position in shares of Enbridge in the second quarter worth about $159,000. 61.64% of the stock is owned by institutional investors and hedge funds.

Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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Analyst Recommendations for Enbridge (NYSE:ENB)

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