Enbridge (NYSE:ENB) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Enbridge (NYSE:ENB) (TSE:ENB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other analysts have also commented on the company. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Price Performance

Shares of ENB stock opened at $53.76 on Friday. The stock has a 50-day moving average price of $52.58 and a 200 day moving average price of $49.44. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The firm has a market cap of $117.31 billion, a price-to-earnings ratio of 23.37 and a beta of 0.63. Enbridge has a 12 month low of $39.73 and a 12 month high of $55.44.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period last year, the company earned $0.75 earnings per share. Research analysts expect that Enbridge will post 2.14 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tsfg LLC boosted its holdings in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the last quarter. Triumph Capital Management bought a new position in Enbridge during the third quarter worth about $26,000. Highline Wealth Partners LLC boosted its holdings in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares during the last quarter. Turning Point Benefit Group Inc. bought a new position in Enbridge during the third quarter worth about $28,000. Finally, Inspire Investing LLC bought a new position in Enbridge during the fourth quarter worth about $29,000. Institutional investors own 54.60% of the company’s stock.

About Enbridge

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.