Enbridge (NYSE:ENB) Rating Increased to Hold at Wall Street Zen

Key Points

• Enbridge has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, following similar upgrades from Jefferies Financial Group and Zacks Research.
• The company reported a quarterly earnings per share of $0.47, exceeding the consensus estimate of $0.41, although revenue fell short at $7.14 billion against an expected $10.56 billion.
• Enbridge holds a market capitalization of $107.10 billion and has a consensus rating of "Moderate Buy" with an average target price of $60.50.

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

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Zacks Research upgraded shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Argus lifted their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Stock Performance

Shares of ENB opened at $49.11 on Friday. The company's fifty day moving average is $46.65 and its 200-day moving average is $45.36. Enbridge has a 12 month low of $39.73 and a 12 month high of $49.11. The firm has a market cap of $107.10 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 4.46 and a beta of 0.80. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the prior year, the firm earned $0.58 EPS. Equities analysts expect that Enbridge will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Enbridge

A number of large investors have recently modified their holdings of ENB. Wealth Enhancement Advisory Services LLC lifted its position in shares of Enbridge by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after buying an additional 25,071 shares in the last quarter. Hartline Investment Corp grew its holdings in Enbridge by 31.3% during the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock valued at $1,600,000 after buying an additional 8,610 shares in the last quarter. Wellington Management Group LLP grew its holdings in Enbridge by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock valued at $48,806,000 after buying an additional 7,890 shares in the last quarter. JBR Co Financial Management Inc purchased a new position in shares of Enbridge during the first quarter worth about $330,000. Finally, Raymond James Financial Inc. lifted its position in Enbridge by 0.8% during the first quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company's stock valued at $190,532,000 after purchasing an additional 35,515 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

About Enbridge

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.

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