Enbridge Inc (ENB) Downgraded to Hold at GMP Securities
A number of other research firms also recently issued reports on ENB. BidaskClub raised shares of Enbridge from a strong sell rating to a sell rating in a research note on Friday, August 25th. Morgan Stanley restated an equal weight rating and issued a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research cut shares of Enbridge from a hold rating to a sell rating in a report on Tuesday, July 11th. Finally, J P Morgan Chase & Co restated a neutral rating on shares of Enbridge in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $56.00.
Enbridge (NYSE:ENB) traded down 1.6249% during trading on Tuesday, hitting $40.6289. 906,405 shares of the stock were exchanged. The stock’s 50 day moving average price is $41.04 and its 200 day moving average price is $40.56. The stock has a market cap of $66.87 billion, a P/E ratio of 31.8908 and a beta of 0.65. Enbridge has a 12 month low of $37.37 and a 12 month high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period last year, the firm posted $0.50 earnings per share. Analysts forecast that Enbridge will post $1.63 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ENB. Monroe Bank & Trust MI acquired a new position in Enbridge during the 1st quarter worth approximately $105,000. NEXT Financial Group Inc grew its holdings in Enbridge by 17.7% during the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 411 shares in the last quarter. First Personal Financial Services grew its holdings in Enbridge by 16.4% during the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after acquiring an additional 397 shares in the last quarter. Welch Group LLC acquired a new position in Enbridge during the 2nd quarter worth approximately $121,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in Enbridge during the 2nd quarter worth approximately $159,000. Institutional investors own 61.57% of the company’s stock.
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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