Enbridge (NYSE:ENB) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of Enbridge (NYSE:ENB) (TSE:ENB) from a hold rating to a sell rating in a research note released on Thursday morning, ValuEngine reports.

Several other brokerages also recently issued reports on ENB. Goldman Sachs Group started coverage on shares of Enbridge in a report on Thursday, July 18th. They set a neutral rating for the company. Bank of America cut shares of Enbridge from a buy rating to a neutral rating and set a $49.00 price objective on the stock. in a research note on Tuesday, July 2nd. Industrial Alliance Securities restated a buy rating on shares of Enbridge in a research note on Monday, April 8th. Credit Suisse Group cut shares of Enbridge from an outperform rating to a neutral rating in a research note on Thursday, April 25th. Finally, Barclays started coverage on shares of Enbridge in a research note on Tuesday, April 9th. They set an overweight rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Enbridge has an average rating of Hold and an average target price of $43.75.

Shares of ENB traded down $0.14 during midday trading on Thursday, hitting $33.50. 2,807,758 shares of the stock traded hands, compared to its average volume of 2,273,907. Enbridge has a 1-year low of $28.82 and a 1-year high of $38.04. The company has a market capitalization of $67.58 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.62 and a beta of 0.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.64 and a quick ratio of 0.56. The company’s 50 day simple moving average is $35.32.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. The company had revenue of $9.92 billion during the quarter. As a group, equities analysts forecast that Enbridge will post 1.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.251 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Monday, September 30th. Enbridge’s dividend payout ratio is currently 106.83%.

In related news, insider Albert Monaco acquired 7,848 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $49.81 per share, for a total transaction of $390,908.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Manchester Financial Inc. bought a new stake in Enbridge in the second quarter worth about $25,000. Westside Investment Management Inc. bought a new stake in Enbridge in the second quarter worth about $25,000. Cascade Investment Advisors Inc. bought a new stake in Enbridge in the second quarter worth about $36,000. Northern Oak Wealth Management Inc. bought a new stake in Enbridge in the second quarter worth about $36,000. Finally, Hanson McClain Inc. raised its position in Enbridge by 41.9% in the first quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 55.17% of the company’s stock.

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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