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

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

A number of other equities analysts also recently commented on ENB. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Royal Bank Of Canada increased their target price on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Stock Up 0.0%

Shares of NYSE:ENB opened at $54.16 on Friday. The firm has a market cap of $118.20 billion, a PE ratio of 23.55 and a beta of 0.63. The company has a fifty day simple moving average of $52.46 and a 200 day simple moving average of $49.41. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge has a 12-month low of $39.73 and a 12-month high of $55.44.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period last year, the business earned $0.75 EPS. On average, equities research analysts anticipate that Enbridge will post 2.14 EPS for the current fiscal year.

Institutional Trading of Enbridge

Several large investors have recently added to or reduced their stakes in the business. Tsfg LLC boosted its position in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares during the period. Triumph Capital Management acquired a new position in shares of Enbridge during the third quarter valued at $26,000. Highline Wealth Partners LLC raised its stake in shares of Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge during the third quarter valued at about $28,000. Finally, Inspire Investing LLC acquired a new stake in Enbridge in the fourth quarter worth about $29,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.