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

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Monday, Marketbeat reports.

Enbridge Stock Up 1.3 %

ENB opened at $41.14 on Monday. The firm’s 50 day simple moving average is $39.43 and its two-hundred day simple moving average is $37.06. The company has a market capitalization of $87.79 billion, a PE ratio of 20.88, a PEG ratio of 3.93 and a beta of 0.94. Enbridge has a 1-year low of $31.03 and a 1-year high of $41.22. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, equities analysts forecast that Enbridge will post 2.08 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently modified their holdings of the company. Verity & Verity LLC boosted its holdings in Enbridge by 2.8% in the 2nd quarter. Verity & Verity LLC now owns 455,531 shares of the pipeline company’s stock worth $16,212,000 after buying an additional 12,381 shares during the period. Bluefin Capital Management LLC purchased a new position in shares of Enbridge in the second quarter valued at about $391,000. Heritage Wealth Management Inc. bought a new position in shares of Enbridge in the second quarter worth about $415,000. Sanctuary Advisors LLC purchased a new stake in shares of Enbridge during the second quarter worth about $5,837,000. Finally, Ghisallo Capital Management LLC bought a new stake in Enbridge during the 2nd quarter valued at approximately $26,082,000. 54.60% of the stock is currently owned by institutional investors.

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.