Jefferies Financial Group Downgrades Enbridge (TSE:ENB) to Hold

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Monday, BayStreet.CA reports. They presently have a C$58.00 price objective on the stock, up from their previous price objective of C$55.00. Jefferies Financial Group’s target price indicates a potential upside of 6.07% from the stock’s current price.

A number of other brokerages have also commented on ENB. CIBC boosted their price objective on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Wells Fargo & Company boosted their target price on Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. National Bankshares lifted their price target on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on Enbridge from C$56.00 to C$57.00 in a research note on Wednesday, August 7th. Finally, Scotiabank downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$54.58.

Enbridge Stock Performance

Shares of ENB traded down C$0.35 during mid-day trading on Monday, hitting C$54.68. 962,782 shares of the company’s stock were exchanged, compared to its average volume of 8,081,561. The firm has a market capitalization of C$119.20 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.75 and a beta of 0.90. Enbridge has a fifty-two week low of C$42.75 and a fifty-two week high of C$56.09. The business’s 50 day moving average is C$53.55 and its two-hundred day moving average is C$50.50. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The business had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. On average, equities analysts expect that Enbridge will post 3.0459834 earnings per share for the current year.

Insider Transactions at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. In related news, Director Steven Walter Williams acquired 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.