Enbridge (NYSE:ENB) Cut to Sell at Wall Street Zen

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

ENB has been the subject of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Royal Bank Of Canada boosted their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Trading Up 0.1%

Shares of Enbridge stock opened at $56.24 on Friday. The stock has a fifty day moving average price of $55.12 and a 200-day moving average price of $52.15. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market cap of $122.84 billion, a PE ratio of 26.41 and a beta of 0.58. Enbridge has a 1 year low of $43.59 and a 1 year high of $58.45.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Triumph Capital Management purchased a new stake in shares of Enbridge during the third quarter worth $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC purchased a new stake in Enbridge during the 4th quarter worth about $29,000. Garner Asset Management Corp purchased a new stake in Enbridge during the 4th quarter worth about $30,000. Finally, Imprint Wealth LLC bought a new position in Enbridge in the 3rd quarter worth about $31,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.