BidaskClub Upgrades Enbridge Inc (ENB) to Sell
Enbridge Inc (NYSE:ENB) (TSE:ENB) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.
ENB has been the topic of a number of other reports. Wolfe Research started coverage on shares of Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target on the stock. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Finally, Morgan Stanley started coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.00.
Enbridge (NYSE ENB) opened at 40.39 on Friday. The stock has a market capitalization of $66.47 billion, a PE ratio of 33.11 and a beta of 0.62. Enbridge has a 52-week low of $37.37 and a 52-week high of $45.77. The firm has a 50-day moving average of $40.63 and a 200-day moving average of $40.73.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period in the previous year, the company earned $0.50 earnings per share. On average, equities analysts expect that Enbridge will post $1.60 EPS for the current year.
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Several large investors have recently bought and sold shares of the stock. First Personal Financial Services bought a new stake in Enbridge during the first quarter worth $102,000. Financial Architects Inc increased its stake in Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock worth $105,000 after buying an additional 2,420 shares during the last quarter. Monroe Bank & Trust MI bought a new stake in Enbridge during the first quarter worth $105,000. Kistler Tiffany Companies LLC bought a new stake in Enbridge during the first quarter worth $109,000. Finally, North Star Investment Management Corp. increased its stake in Enbridge by 196.7% in the first quarter. North Star Investment Management Corp. now owns 2,670 shares of the pipeline company’s stock worth $112,000 after buying an additional 1,770 shares during the last quarter. Institutional investors own 63.37% of the company’s stock.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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