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

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

A number of other equities analysts have also commented on 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 reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Price Performance

Shares of NYSE:ENB opened at $58.07 on Friday. The company’s fifty day moving average price is $54.21 and its 200-day moving average price is $50.76. The firm has a market capitalization of $126.80 billion, a price-to-earnings ratio of 27.26 and a beta of 0.59. Enbridge has a one year low of $43.59 and a one year high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, equities research analysts anticipate that Enbridge will post 2.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently made changes to their positions in the business. Retirement Planning Group LLC lifted its position in shares of Enbridge by 3.6% in the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares during the period. PFG Investments LLC lifted its position in shares of Enbridge by 0.9% in the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after purchasing an additional 202 shares during the period. MIdWestOne Financial Group Inc. lifted its position in shares of Enbridge by 4.3% in the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 203 shares during the period. Sumitomo Life Insurance Co. lifted its position in shares of Enbridge by 1.1% in the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 205 shares during the period. Finally, Arete Wealth Advisors LLC lifted its position in shares of Enbridge by 4.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.