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

by · The Markets Daily

Jefferies Financial Group cut shares of Enbridge (NYSE:ENB – Free Report) (TSE:ENB) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat reports.

Enbridge Stock Performance

Shares of ENB stock opened at $41.05 on Monday. The firm has a market capitalization of $87.60 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 3.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The business has a fifty day moving average of $39.52 and a 200 day moving average of $37.09. Enbridge has a 1 year low of $31.03 and a 1 year high of $41.35.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter last year, the business posted $0.51 EPS. As a group, research analysts expect that Enbridge will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.52%. Enbridge’s payout ratio is currently 134.01%.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently modified their holdings of the business. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge during the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge in the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge in the 1st quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge in the 1st quarter worth about $31,000. Finally, PFS Partners LLC boosted its holdings in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after buying an additional 451 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

About Enbridge

(Get Free Report)

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.

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