Enbridge (ENB) Downgraded by UBS Group to “Neutral”

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UBS Group cut shares of Enbridge (TSE:ENB) (NYSE:ENB) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, www.baystreet.ca reports.

ENB has been the subject of several other reports. CIBC boosted their target price on Enbridge from C$55.00 to C$57.00 in a report on Tuesday, January 15th. National Bank Financial boosted their target price on Enbridge from C$57.00 to C$59.00 and gave the company an outperform rating in a report on Wednesday, January 23rd. TD Securities boosted their target price on Enbridge from C$54.00 to C$56.00 in a report on Monday, November 5th. Wells Fargo & Co boosted their target price on Enbridge from C$54.00 to C$55.00 and gave the company an outperform rating in a report on Tuesday, November 6th. Finally, BMO Capital Markets reduced their price objective on Enbridge from C$60.00 to C$59.00 in a research note on Monday, November 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of C$54.23.

Shares of Enbridge stock traded down C$1.39 on Friday, hitting C$47.92. The stock had a trading volume of 5,653,600 shares, compared to its average volume of 4,918,277. Enbridge has a 52-week low of C$37.36 and a 52-week high of C$49.70. The company has a debt-to-equity ratio of 88.23, a quick ratio of 0.46 and a current ratio of 0.60. The company has a market capitalization of $98.42 billion and a P/E ratio of 49.61.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be paid a dividend of $0.738 per share. The ex-dividend date is Thursday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.95 annualized dividend and a yield of 6.16%. Enbridge’s dividend payout ratio is currently 271.53%.

In other Enbridge news, insider Byron Craig Neiles sold 64,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of C$43.10, for a total transaction of C$2,758,400.00. Following the completion of the sale, the insider now directly owns 64,667 shares of the company’s stock, valued at approximately C$2,787,147.70. Also, Director Albert Monaco acquired 7,569 shares of Enbridge stock in a transaction on Tuesday, December 4th. The shares were bought at an average cost of C$43.82 per share, with a total value of C$331,673.58.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in 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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Analyst Recommendations for Enbridge (TSE:ENB)

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