Enbridge (NYSE:ENB) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Enbridge from “hold” to “sell.” Other analysts’ views are mixed, and MarketBeat reports an overall “Moderate Buy” rating with a $65.88 consensus price target.
• Enbridge’s latest quarterly results beat estimates: earnings were $0.39 per share versus $0.36 expected, while revenue was $21.08 billion versus $9.62 billion forecast.
• Shares opened at $47.66 and were down 0.9%; they were trading closer to their 52-week low of $45.03 than their high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the company. National Bank Financial raised Enbridge from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. Jefferies Financial Group reissued a "hold" rating on shares of Enbridge in a report on Monday, September 14th. Weiss Ratings lowered Enbridge from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, November 2nd. Raymond James Financial restated a "market perform" rating on shares of Enbridge in a research note on Tuesday, September 15th. Finally, BMO Capital Markets raised Enbridge from a "market perform" rating to an "outperform" rating and set a $79.50 price target for the company in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $65.88.

Enbridge Trading Down 0.9%

Shares of NYSE:ENB opened at $47.66 on Friday. Enbridge has a 52-week low of $45.03 and a 52-week high of $58.45. The company has a market capitalization of $106.22 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 5.75 and a beta of 0.59. The company has a 50-day simple moving average of $47.83 and a 200 day simple moving average of $52.18. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.81.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, November 6th. The pipeline company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. The business had revenue of $21.08 billion during the quarter, compared to analysts' expectations of $9.62 billion. Enbridge had a return on equity of 11.56% and a net margin of 7.37%. Sell-side analysts forecast that Enbridge will post 2.09 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Octavia Wealth Advisors LLC lifted its position in Enbridge by 18.6% during the third quarter. Octavia Wealth Advisors LLC now owns 7,682 shares of the pipeline company's stock worth $357,000 after acquiring an additional 1,205 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Enbridge in the third quarter valued at approximately $189,892,000. Empowered Funds LLC grew its position in shares of Enbridge by 30.9% in the third quarter. Empowered Funds LLC now owns 124,199 shares of the pipeline company's stock valued at $5,774,000 after purchasing an additional 29,342 shares during the last quarter. United Southern Bank Trust Department acquired a new position in shares of Enbridge in the third quarter valued at approximately $1,801,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Enbridge during the third quarter worth approximately $462,000. 54.60% of the stock is owned by institutional investors.

Enbridge Company Profile

Enbridge Inc. is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses. Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.

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