Enbridge (TSE:ENB) Downgraded by Jefferies Financial Group

Jefferies Financial Group lowered shares of Enbridge (TSE:ENB) (NYSE:ENB) from a buy rating to a hold rating in a research report sent to investors on Monday morning, BayStreet.CA reports. Jefferies Financial Group currently has C$58.00 price objective on the stock, up from their prior price objective of C$55.00.

Other analysts have also issued research reports about the company. BMO Capital Markets boosted their price target on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Wells Fargo & Company boosted their price objective on Enbridge from C$45.00 to C$48.00 in a research note on Tuesday, June 4th. National Bankshares lifted their price target 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. Scotiabank lowered shares of Enbridge from a strong-buy rating to a hold rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Enbridge from C$56.00 to C$57.00 in a research report on Wednesday, August 7th. 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 stock presently has an average rating of Hold and an average price target of C$54.58.

Enbridge Price Performance

Shares of TSE:ENB opened at C$55.42 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a market capitalization of C$120.82 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. The firm’s 50 day moving average price is C$53.85 and its 200-day moving average price is C$50.63. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$56.09.

Enbridge (TSE:ENB) (NYSE:ENB) last issued 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). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The business had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. Equities research analysts expect that Enbridge will post 3.0366521 EPS for the current year.

Enbridge Dividend Announcement

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

Insider Buying and Selling

In other news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. In related news, Director Steven Walter Williams bought 18,600 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price 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 firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by company insiders.

About Enbridge

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.