JPMorgan Chase & Co. Downgrades Enbridge (TSE:ENB) to Neutral

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday,BayStreet.CA reports. They presently have a C$69.00 price target on the stock, down from their prior price target of C$74.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 5.41% from the company’s previous close.

Other analysts also recently issued reports about the company. Barclays increased their price target on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Raymond James Financial lifted their target price on Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. ATB Capital set a C$72.00 price target on Enbridge and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Jefferies Financial Group reduced their price objective on shares of Enbridge from C$73.00 to C$71.00 in a research report on Tuesday, December 23rd. Finally, Scotiabank upgraded shares of Enbridge from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from C$70.00 to C$73.00 in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$71.31.

Enbridge Price Performance

Shares of ENB traded down C$0.18 during mid-day trading on Tuesday, reaching C$65.46. The company had a trading volume of 2,266,119 shares, compared to its average volume of 6,322,325. The company has a market capitalization of C$142.90 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The company’s 50 day simple moving average is C$65.66 and its 200 day simple moving average is C$65.85. Enbridge has a 1-year low of C$56.51 and a 1-year high of C$70.39.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$14.64 billion for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. Analysts expect that Enbridge will post 3.511912 EPS for the current 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.