Zacks Research Downgrades Enbridge (NYSE:ENB) to Strong Sell

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on ENB. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Argus lifted their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $48.77 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $106.37 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The firm’s 50 day moving average price is $48.28 and its 200-day moving average price is $46.81. Enbridge has a twelve month low of $39.73 and a twelve month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the prior year, the company posted $0.55 earnings per share. Equities research analysts expect that Enbridge will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Enbridge

A number of hedge funds have recently made changes to their positions in the company. Dagco Inc. bought a new stake in Enbridge in the 1st quarter worth approximately $25,000. Tsfg LLC lifted its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares during the last quarter. Whipplewood Advisors LLC grew its stake in shares of Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after buying an additional 308 shares in the last quarter. Highline Wealth Partners LLC raised its position in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at approximately $29,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.