Enbridge (NYSE:ENB) Stock Bumped Down to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Enbridge (NYSE:ENB) (TSE:ENB) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

ENB has been the topic of several other research reports. National Bank Financial raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Raymond James Financial reiterated a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. TD Securities reissued a “buy” rating on shares of Enbridge in a research note on Friday, October 16th. Weiss Ratings cut shares of Enbridge from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. Finally, Jefferies Financial Group restated a “hold” rating on shares of Enbridge in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.88.

Enbridge Price Performance

ENB stock traded down $0.45 during trading hours on Friday, hitting $47.66. 8,806,005 shares of the stock traded hands, compared to its average volume of 5,093,233. The stock has a 50-day simple moving average of $47.83 and a 200 day simple moving average of $52.18. The company has a market cap of $106.22 billion, a P/E ratio of 23.36, a P/E/G ratio of 5.75 and a beta of 0.59. Enbridge has a one year low of $45.03 and a one year high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 6th. The pipeline company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Enbridge had a net margin of 7.37% and a return on equity of 11.56%. The firm had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Equities analysts forecast that Enbridge will post 2.09 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a C$0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, November 13th. Enbridge’s dividend payout ratio (DPR) is 134.80%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. GK Wealth Management LLC acquired a new stake in Enbridge during the 3rd quarter worth about $25,000. Arlington Trust Co LLC grew its stake in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 267 shares in the last quarter. Signature Equity Partners LLC grew its stake in Enbridge by 476.5% during the 3rd quarter. Signature Equity Partners LLC now owns 588 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 486 shares in the last quarter. Quintet Private Bank Europe S.A. increased its holdings in shares of Enbridge by 100.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Finally, City Holding Co. increased its holdings in shares of Enbridge by 121.5% in the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock valued at $35,000 after purchasing an additional 356 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc. is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses. Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.