Enbridge Inc (NYSE:ENB) Lowered to Sell at Zacks Investment Research


Enbridge Inc (NYSE:ENB) (TSE:ENB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, October 31st.

According to Zacks, “Enbridge’s huge debt load is a matter of concern. As of Jun 30, 2017, Enbridge had long-term debt of $46,170 million, as against cash balance of only $1,583 million, reflecting significant balance sheet weakness. The company also lost 6.1% value in the last six months, significantly underperforming the industry’s loss of 5.7% during the aforesaid period.  The lowest investment grade ratings by  credit rating agencies Standard and Poor’s & Moody’s is a matter of serious concern. Moreover, Enbridge is facing pressure on top line. Over the past three years (2014–2016), total revenues declined at a CAGR of 13.6%.”

Several other analysts have also issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $52.33.

Enbridge (ENB) traded down $0.24 during mid-day trading on Tuesday, reaching $36.40. The company’s stock had a trading volume of 1,171,813 shares, compared to its average volume of 2,320,000. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The stock has a market cap of $60,230.00, a price-to-earnings ratio of 23.89, a PEG ratio of 2.29 and a beta of 0.64. Enbridge has a 1-year low of $36.36 and a 1-year high of $44.51.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.03. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. The company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. sell-side analysts expect that Enbridge will post 1.53 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Monroe Bank & Trust MI purchased a new position in Enbridge during the 1st quarter valued at approximately $105,000. NEXT Financial Group Inc raised its position in Enbridge by 17.7% during the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 411 shares in the last quarter. First Personal Financial Services raised its position in Enbridge by 16.4% during the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock valued at $112,000 after purchasing an additional 397 shares in the last quarter. Spectrum Management Group Inc. bought a new stake in Enbridge during the 3rd quarter valued at $113,000. Finally, Welch Group LLC bought a new stake in Enbridge during the 2nd quarter valued at $121,000. 61.49% of the stock is currently owned by hedge funds and other institutional investors.

About Enbridge

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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