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

Key Points

• Enbridge has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting negative sentiment among analysts about the company's stock performance.
• Despite the downgrade, the consensus rating remains a "Moderate Buy," with a price target of $60.50, as six analysts still favor a buy rating for the stock.
• Enbridge reported $0.47 earnings per share for the last quarter, exceeding analysts' expectations, although its revenue missed targets significantly with $7.14 billion versus expected $10.56 billion.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

Several other brokerages have also weighed in on ENB. Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Zacks Research downgraded Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Trading Up 1.1%

Shares of NYSE:ENB traded up $0.54 during trading on Friday, reaching $49.73. 1,497,918 shares of the stock were exchanged, compared to its average volume of 3,888,159. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge has a 12-month low of $39.73 and a 12-month high of $49.82. The firm has a market cap of $108.44 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 4.52 and a beta of 0.80. The firm's 50-day moving average price is $47.22 and its 200 day moving average price is $45.70.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the prior year, the business earned $0.58 EPS. On average, sell-side analysts anticipate that Enbridge will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company's stock worth $4,371,580,000 after buying an additional 3,217,961 shares in the last quarter. GQG Partners LLC boosted its stake in Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the period. TD Asset Management Inc lifted its stake in shares of Enbridge by 1.6% in the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company's stock worth $1,804,913,000 after acquiring an additional 617,577 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after acquiring an additional 19,074,827 shares during the period. Finally, Norges Bank acquired a new stake in shares of Enbridge in the second quarter valued at about $1,113,368,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.