Enbridge (NYSE:ENB) Stock Rating Lowered by JPMorgan Chase & Co.

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday,Finviz reports.

A number of other equities analysts have also recently commented on ENB. Royal Bank Of Canada lifted their target price on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Scotiabank upgraded Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Enbridge Stock Performance

NYSE:ENB opened at $47.88 on Tuesday. The business has a 50 day moving average of $47.40 and a 200 day moving average of $47.49. The company has a market capitalization of $104.46 billion, a price-to-earnings ratio of 26.31 and a beta of 0.68. Enbridge has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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). The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, sell-side analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tsfg LLC increased its position in Enbridge by 329.6% during 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 during the period. Whipplewood Advisors LLC boosted its stake in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Enbridge during the 3rd quarter valued at about $26,000. Highline Wealth Partners LLC increased its position 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 buying an additional 236 shares during the period. Finally, Turning Point Benefit Group Inc. bought a new position in Enbridge in the third quarter worth about $28,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Company Profile

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.