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

Jefferies Financial Group cut shares of Enbridge (TSE:ENB) (NYSE:ENB) from a buy rating to a hold rating in a research report report published on Monday, BayStreet.CA reports. Jefferies Financial Group currently has C$58.00 price target on the stock, up from their previous price target of C$55.00.

Several other equities research analysts also recently weighed in on the company. National Bankshares increased their price target 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 raised their target price on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. CIBC raised their target price on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on Enbridge from C$56.00 to C$57.00 in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company raised their target price on Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has a consensus rating of Hold and a consensus target price of C$54.58.

Enbridge Stock Performance

Shares of ENB stock opened at C$54.94 on Monday. The firm has a market capitalization of C$119.77 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The business has a fifty day moving average of C$53.64 and a 200 day moving average of C$50.54. Enbridge has a 1 year low of C$42.75 and a 1 year high of C$56.09.

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

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Activity

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