Enbridge (NYSE:ENB) Downgraded by Wall Street Zen to “Sell”

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

Several other research analysts also recently commented on the stock. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Price Performance

ENB opened at $54.16 on Friday. The business has a fifty day moving average of $52.46 and a 200 day moving average of $49.41. Enbridge has a 52-week low of $39.73 and a 52-week high of $55.44. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The stock has a market cap of $118.20 billion, a P/E ratio of 23.55 and a beta of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The company had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that Enbridge will post 2.14 EPS for the current year.

Institutional Trading of Enbridge

A number of hedge funds have recently added to or reduced their stakes in the business. Tsfg LLC raised its holdings in shares of Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares in the last quarter. Triumph Capital Management bought a new position in shares of Enbridge during the third quarter valued at approximately $26,000. Highline Wealth Partners LLC boosted 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. purchased a new position in Enbridge during the third quarter valued at approximately $28,000. Finally, Inspire Investing LLC purchased a new position in Enbridge during the fourth quarter valued at approximately $29,000. 54.60% of the stock is 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.