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

Jefferies Financial Group downgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) from a buy rating to a hold rating in a report issued on Monday morning, BayStreet.CA reports. They currently have C$58.00 price objective on the stock, up from their previous price objective of C$55.00.

Several other analysts also recently weighed in on the company. Scotiabank downgraded Enbridge from a strong-buy rating to a hold rating in a research note on Friday, June 14th. Wells Fargo & Company increased their price target on shares of Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of Enbridge from C$56.00 to C$57.00 in a research note on Wednesday, August 7th. National Bankshares upped their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the company a sector perform rating in a report on Friday, August 23rd. Finally, CIBC raised their target price on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of C$54.58.

Enbridge Stock Performance

Shares of Enbridge stock opened at C$55.42 on Monday. The company has a 50 day moving average price of C$53.85 and a 200 day moving average price of C$50.63. The firm has a market capitalization of C$120.82 billion, a P/E ratio of 21.32, 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. Enbridge has a 52 week low of C$42.75 and a 52 week high of C$56.09.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. Sell-side analysts expect that Enbridge will post 3.0366521 EPS for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.915 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.60%. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

Insider Transactions at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. In related news, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired 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 business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. 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.