Enbridge (NYSE:ENB - Get Free Report) TSE: ENB was downgraded by research analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.
A number of other research analysts also recently commented on the stock. Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. CIBC downgraded shares of Enbridge from an "outperform" rating to a "neutral" rating in a report on Thursday. Zacks Research cut shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $60.50.
Check Out Our Latest Research Report on ENB
Enbridge Trading Down 2.1%
Shares of NYSE:ENB opened at $48.01 on Thursday. Enbridge has a 12 month low of $39.73 and a 12 month high of $50.54. 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 company's fifty day simple moving average is $48.38 and its 200 day simple moving average is $46.23. The firm has a market cap of $104.70 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 4.49 and a beta of 0.78.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period in the previous year, the business earned $0.58 EPS. As a group, research analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.
Hedge Funds Weigh In On Enbridge
Hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in Enbridge during the 4th quarter worth approximately $261,000. GAMMA Investing LLC increased its position in Enbridge by 4,331.0% during the 1st quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company's stock worth $1,400,000 after purchasing an additional 30,880 shares in the last quarter. Farther Finance Advisors LLC increased its position in Enbridge by 64.6% during the 1st quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company's stock worth $907,000 after purchasing an additional 7,992 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Enbridge by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 75,420 shares of the pipeline company's stock worth $3,337,000 after purchasing an additional 320 shares in the last quarter. Finally, CX Institutional acquired a new position in Enbridge during the 1st quarter worth approximately $85,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.
About Enbridge
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
