Enbridge (NYSE:ENB) Lowered to “Neutral” Rating by JPMorgan Chase & Co.

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Tuesday,Finviz reports.

Other research analysts have also issued reports about the stock. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Enbridge Trading Down 0.7%

NYSE ENB opened at $47.88 on Tuesday. The firm has a market capitalization of $104.46 billion, a PE ratio of 26.31 and a beta of 0.68. The stock’s 50 day moving average is $47.40 and its 200 day moving average is $47.49. Enbridge has a twelve month low of $39.73 and a twelve month high of $50.54. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter last year, the company posted $0.55 EPS. Research analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

Several institutional investors have recently added to or reduced their stakes in ENB. OLD Second National Bank of Aurora increased its holdings in shares of Enbridge by 2.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 47,463 shares of the pipeline company’s stock worth $2,270,000 after purchasing an additional 1,085 shares in the last quarter. River Street Advisors LLC boosted its position in shares of Enbridge by 1.6% during the fourth quarter. River Street Advisors LLC now owns 23,689 shares of the pipeline company’s stock valued at $1,133,000 after buying an additional 382 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Enbridge by 11.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 52,403 shares of the pipeline company’s stock valued at $2,506,000 after buying an additional 5,531 shares during the last quarter. Merit Financial Group LLC increased its holdings in Enbridge by 10.3% in the 4th quarter. Merit Financial Group LLC now owns 37,350 shares of the pipeline company’s stock worth $1,786,000 after buying an additional 3,478 shares in the last quarter. Finally, AE Wealth Management LLC increased its holdings in Enbridge by 6.3% in the 4th quarter. AE Wealth Management LLC now owns 50,722 shares of the pipeline company’s stock worth $2,426,000 after buying an additional 2,998 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.