Enbridge (TSE:ENB) Lowered to Neutral Rating by JPMorgan Chase & Co.

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$69.00 price objective on the stock, down from their previous price objective of C$74.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 5.41% from the company’s current price.

Several other brokerages also recently issued reports on ENB. Scotiabank raised shares of Enbridge from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from C$70.00 to C$73.00 in a research report on Friday, January 16th. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Jefferies Financial Group cut their price target on Enbridge from C$73.00 to C$71.00 in a report on Tuesday, December 23rd. BMO Capital Markets increased their price objective on Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. Finally, CIBC cut their target price on Enbridge from C$71.00 to C$69.00 in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average price target of C$71.31.

Enbridge Trading Down 0.3%

Shares of ENB traded down C$0.18 during trading hours on Tuesday, reaching C$65.46. The stock had a trading volume of 2,266,119 shares, compared to its average volume of 6,322,325. The company has a market cap of C$142.90 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a 52 week low of C$56.51 and a 52 week high of C$70.39. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The firm has a 50-day moving average of C$65.66 and a 200 day moving average of C$65.85.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.46 earnings per share (EPS) for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%.The company had revenue of C$14.64 billion during the quarter. On average, sell-side analysts expect that Enbridge will post 3.511912 earnings per share for the current fiscal year.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.