Enbridge (NYSE:ENB) Lowered to “Hold” at Jefferies Financial Group

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Monday, Briefing.com reports.

Enbridge Price Performance

ENB stock opened at $40.71 on Monday. The stock’s 50 day moving average is $39.26 and its two-hundred day moving average is $36.99. Enbridge has a 52-week low of $31.03 and a 52-week high of $41.22. The company has a market capitalization of $86.87 billion, a PE ratio of 20.66, a P/E/G ratio of 3.93 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period last year, the business earned $0.51 EPS. Analysts predict that Enbridge will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently modified their holdings of the business. TruNorth Capital Management LLC bought a new position in Enbridge during the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the second quarter worth about $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge during the first quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth about $31,000. Finally, PFS Partners LLC boosted its stake in Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 451 shares during the period. Institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.