Enbridge (NYSE:ENB) Cut to “Hold” at ValuEngine

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, April 1st, ValuEngine reports.

A number of other equities research analysts have also recently commented on ENB. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, February 5th. National Bank Financial upgraded Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Wednesday, March 20th. Wells Fargo & Co reiterated a “buy” rating on shares of Enbridge in a research report on Monday, February 18th. Bank of America reiterated a “buy” rating on shares of Enbridge in a research report on Tuesday, March 5th. Finally, Scotia Howard Weill lowered Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.46.

NYSE:ENB traded up $0.16 during midday trading on Monday, hitting $37.83. The company’s stock had a trading volume of 3,457,538 shares, compared to its average volume of 3,603,811. Enbridge has a fifty-two week low of $28.82 and a fifty-two week high of $37.96. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. The company has a market cap of $76.29 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 15th. The pipeline company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. The company had revenue of $8.75 billion for the quarter, compared to the consensus estimate of $12.27 billion. During the same quarter in the prior year, the company earned $0.61 EPS. Equities research analysts predict that Enbridge will post 1.71 earnings per share for the current fiscal year.

In other Enbridge news, insider William T. Yardley sold 14,900 shares of Enbridge stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the transaction, the insider now directly owns 94,770 shares of the company’s stock, valued at approximately $3,504,594.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cynthia L. Hansen bought 799 shares of the company’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $49.13 per share, with a total value of $39,254.87. Following the completion of the transaction, the insider now owns 105,423 shares in the company, valued at $5,179,431.99. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in ENB. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in Enbridge by 6.3% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,767,200 shares of the pipeline company’s stock worth $73,657,000 after purchasing an additional 105,000 shares during the last quarter. AE Wealth Management LLC lifted its stake in Enbridge by 2.4% during the fourth quarter. AE Wealth Management LLC now owns 31,348 shares of the pipeline company’s stock worth $974,000 after purchasing an additional 740 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its stake in Enbridge by 25.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 9,448 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 1,930 shares during the last quarter. Morgan Stanley lifted its stake in Enbridge by 11.0% during the third quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock worth $154,592,000 after purchasing an additional 472,660 shares during the last quarter. Finally, Freestone Capital Holdings LLC purchased a new stake in Enbridge during the fourth quarter worth approximately $3,328,000. 56.43% of the stock is owned by institutional investors and hedge funds.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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 (NYSE:ENB)

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