Jefferies Financial Group Downgrades Enbridge (TSE:ENB) to Hold

Jefferies Financial Group downgraded shares of Enbridge (TSE:ENBFree Report) (NYSE:ENB) from a buy rating to a hold rating in a research report sent to investors on Monday morning, BayStreet.CA reports. Jefferies Financial Group currently has C$58.00 price target on the stock, up from their prior price target of C$55.00.

A number of other equities research analysts also recently commented on the stock. Scotiabank downgraded shares of Enbridge from a strong-buy rating to a hold rating in a research report on Friday, June 14th. Wells Fargo & Company raised their price target on Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. CIBC upped their price objective on Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on Enbridge from C$56.00 to C$57.00 in a report on Wednesday, August 7th. Finally, National Bankshares upped their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a sector perform rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Enbridge currently has an average rating of Hold and an average target price of C$55.25.

Check Out Our Latest Stock Analysis on Enbridge

Enbridge Price Performance

Enbridge stock opened at C$55.25 on Monday. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The business has a 50 day simple moving average of C$53.95 and a 200-day simple moving average of C$50.66. Enbridge has a 12 month low of C$42.75 and a 12 month high of C$56.09. The stock has a market capitalization of C$120.45 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90.

Enbridge (TSE:ENBGet Free Report) (NYSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). The firm had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. Equities analysts predict that Enbridge will post 3.0366521 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is currently 140.77%.

Insider Activity

In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of C$53.74 per share, with a total value of C$999,564.00. In related news, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Enbridge (TSE:ENB)

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