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

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Monday, BayStreet.CA reports. They presently have a C$58.00 price target on the stock, up from their previous price target of C$55.00. Jefferies Financial Group’s price objective would suggest a potential upside of 4.49% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. National Bankshares upped their target price on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. BMO Capital Markets upped their target price on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Scotiabank cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. CIBC raised their price objective on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Finally, Wells Fargo & Company raised their price objective on shares of Enbridge from C$45.00 to C$48.00 in a research note on Tuesday, June 4th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average target price of C$54.58.

Enbridge Stock Up 1.0 %

Shares of Enbridge stock opened at C$55.51 on Monday. The stock has a market capitalization of C$121.01 billion, a P/E ratio of 21.35, a PEG ratio of 0.75 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a 50 day moving average price of C$53.75 and a two-hundred day moving average price of C$50.60. Enbridge has a 12-month low of C$42.75 and a 12-month high of C$56.09.

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

Insider Buying and Selling

In other news, Director Steven Walter Williams bought 18,600 shares of Enbridge stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, with a total value of C$999,564.00. In other news, Director Steven Walter Williams bought 18,600 shares of Enbridge stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased 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 firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by company insiders.

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.