Enbridge Inc (NYSE:ENB) Downgraded by BidaskClub to Strong Sell
Enbridge Inc (NYSE:ENB) (TSE:ENB) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.
Several other equities research analysts also recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Finally, Wolfe Research began coverage on shares of Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.00.
Shares of Enbridge (ENB) traded up 0.50% during trading on Friday, reaching $39.61. 663,069 shares of the company were exchanged. The company’s 50-day moving average is $40.65 and its 200 day moving average is $41.00. The firm has a market capitalization of $65.19 billion, a PE ratio of 32.07 and a beta of 0.62. Enbridge has a 1-year low of $37.37 and a 1-year high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same quarter last year, the business earned $0.50 earnings per share. Equities research analysts expect that Enbridge will post $1.57 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. First Personal Financial Services acquired a new position in shares of Enbridge during the first quarter valued at about $102,000. Financial Architects Inc boosted its position in shares of Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock valued at $105,000 after buying an additional 2,420 shares during the period. Monroe Bank & Trust MI acquired a new position in shares of Enbridge during the first quarter valued at about $105,000. Kistler Tiffany Companies LLC acquired a new position in shares of Enbridge during the first quarter valued at about $109,000. Finally, NEXT Financial Group Inc boosted its position in shares of Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 63.83% of the company’s stock.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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