Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a report released on Friday, The Fly reports.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, December 31st. CIBC reissued a “buy” rating and issued a $57.00 price objective on shares of Enbridge in a research note on Tuesday, January 15th. Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. Wolfe Research raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th. Finally, Evercore ISI started coverage on shares of Enbridge in a research note on Tuesday. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $48.80.
Enbridge stock opened at $37.05 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 0.98. Enbridge has a fifty-two week low of $28.82 and a fifty-two week high of $37.69. The company has a market cap of $75.71 billion, a PE ratio of 24.06, a P/E/G ratio of 2.27 and a beta of 0.69.
In other news, insider Byron C. Neiles sold 64,000 shares of the company’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the transaction, the insider now directly owns 128,665 shares of the company’s stock, valued at $5,545,461.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Albert Monaco purchased 7,569 shares of Enbridge stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average cost of $43.82 per share, for a total transaction of $331,673.58. Following the completion of the transaction, the insider now owns 67,329 shares of the company’s stock, valued at approximately $2,950,356.78. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in Enbridge by 58.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Csenge Advisory Group purchased a new stake in Enbridge in the third quarter valued at $28,000. Rockland Trust Co. purchased a new stake in Enbridge in the fourth quarter valued at $28,000. We Are One Seven LLC purchased a new stake in Enbridge in the fourth quarter valued at $28,000. Finally, Mackey Komara & Dankovich LLC purchased a new stake in Enbridge in the fourth quarter valued at $31,000. 49.36% of the stock is currently owned by institutional investors and hedge funds.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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