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

Enbridge (NYSE:ENB) (TSE:ENB) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

Enbridge Price Performance

Enbridge stock opened at $41.14 on Monday. Enbridge has a 52-week low of $31.03 and a 52-week high of $41.22. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s fifty day moving average is $39.43 and its 200 day moving average is $37.06. The company has a market cap of $87.79 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 3.93 and a beta of 0.94.

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

Hedge Funds Weigh In On Enbridge

Several large investors have recently modified their holdings of ENB. TruNorth Capital Management LLC bought a new position in Enbridge during the second quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the 1st quarter worth about $29,000. Richardson Financial Services Inc. bought a new stake in Enbridge in the first quarter worth about $31,000. Finally, PFS Partners LLC boosted its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares during the period. Institutional investors own 54.60% 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.