Credit Suisse Group cut shares of Enbridge (NYSE:ENB) (TSE:ENB) from an outperform rating to a neutral rating in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports.
Several other research firms also recently commented on ENB. Wells Fargo & Co reissued a buy rating on shares of Enbridge in a research note on Monday, February 18th. Scotia Howard Weill downgraded Enbridge from an outperform rating to a sector perform rating in a research note on Monday, March 4th. Zacks Investment Research downgraded Enbridge from a buy rating to a hold rating in a research note on Wednesday, February 6th. Bank of America reissued a buy rating on shares of Enbridge in a research note on Tuesday, March 5th. Finally, National Bank Financial raised Enbridge from a sector perform overweight rating to an outperform overweight rating in a research note on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Enbridge presently has an average rating of Buy and an average price target of $46.46.
NYSE ENB opened at $37.40 on Thursday. Enbridge has a one year low of $28.82 and a one year high of $37.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.58 and a quick ratio of 0.49. The firm has a market capitalization of $75.67 billion, a P/E ratio of 18.24, a PEG ratio of 2.53 and a beta of 0.69.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 15th. The pipeline company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Enbridge had a return on equity of 8.72% and a net margin of 5.64%. The firm had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $12.27 billion. During the same period in the prior year, the company earned $0.61 EPS. On average, sell-side analysts forecast that Enbridge will post 1.71 earnings per share for the current year.
In other Enbridge news, insider Allen C. Capps sold 6,514 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total value of $241,148.28. Following the completion of the sale, the insider now directly owns 3,437 shares of the company’s stock, valued at approximately $127,237.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William T. Yardley sold 14,900 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the sale, the insider now directly owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of ENB. Parkside Financial Bank & Trust increased its stake in shares of Enbridge by 58.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Front Row Advisors LLC increased its stake in shares of Enbridge by 3,985.7% in the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 837 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Enbridge in the 3rd quarter worth $28,000. Rockland Trust Co. acquired a new stake in shares of Enbridge in the 4th quarter worth $28,000. Finally, We Are One Seven LLC acquired a new stake in shares of Enbridge in the 4th quarter worth $28,000. 56.44% of the stock is owned by institutional investors and hedge funds.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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