Enbridge (NYSE:ENB) cut to hold at US Capital Advisors


US Capital Advisors cut shares by Enbridge (NYSE: ENBGet a rating) (TSE: ENB) from an overweight rating to a hold rating in a research report sent to investors on Tuesday morning, Fly reports.

Several other analysts have also recently published reports on ENB. National Bank Financial raised its price target on Enbridge shares from C$57.00 to C$60.00 in a report released Monday, May 9. Royal Bank of Canada raised its price target on Enbridge shares from C$60.00 to C$65.00 in a report released Monday, May 9. Scotiabank raised its target price on Enbridge shares from C$58.00 to C$62.00 in a report released Tuesday, April 19. Morgan Stanley raised its price target on Enbridge shares from C$60.00 to C$67.00 in a Tuesday, April 26 research report. Finally, TD Securities raised its price target on Enbridge shares from C$61.00 to C$62.00 in a Monday, May 9 research report. Seven analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat, the company currently has a Moderate Buy average rating and an average price target of $58.04.

Enbridge trades down 0.4%

NYSE ENB opened at $43.82 on Tuesday. The company’s fifty-day simple moving average is $43.50 and its 200-day simple moving average is $43.69. Enbridge has a 52-week low of $36.21 and a 52-week high of $47.67. The company has a current ratio of 0.68, a quick ratio of 0.60 and a debt ratio of 1.23. The stock has a market capitalization of $88.73 billion, a P/E ratio of 19.14, a PEG ratio of 3.06 and a beta of 0.78.

Enbridge (NYSE: ENBGet a rating) (TSE:ENB) last released its quarterly results on Friday, May 6. The pipeline company reported earnings per share (EPS) of $0.66 for the quarter, missing the consensus estimate of $0.67 per ($0.01). The company posted revenue of $11.92 billion in the quarter, versus analyst estimates of $8.76 billion. Enbridge had a net margin of 12.20% and a return on equity of 10.40%. In the same period a year earlier, the company had earned earnings per share of $0.62. Equity research analysts expect Enbridge to post EPS of 2.34 for the current fiscal year.

Enbridge cuts its dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 13 received a dividend of $0.669 per share. The ex-dividend date was Thursday, May 12. This represents a dividend of $2.68 on an annualized basis and a dividend yield of 6.11%. Enbridge’s dividend payout ratio (DPR) is currently 116.16%.

Institutional investors weigh in on Enbridge

A number of hedge funds have recently changed their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings of Enbridge shares by 11.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,045,256 shares of the pipeline company valued at $86,432,000 after purchasing an additional 202,103 shares in the last quarter. First Citizens Bank & Trust Co. increased its equity stake in Enbridge by 43.2% during the second quarter. First Citizens Bank & Trust Co. now owns 10,298 shares of the pipeline company valued at $435,000 after buying 3,107 additional shares in the last quarter. Mastrapasqua Asset Management Inc. acquired a new equity stake in Enbridge during the second quarter valued at approximately $660,000. Brendel Financial Advisors LLC purchased a new equity stake in Enbridge during the second quarter valued at approximately $2,021,000. Finally, ARGI Investment Services LLC increased its equity stake in Enbridge by 4.8% during the second quarter. ARGI Investment Services LLC now owns 13,450 shares of the pipeline company valued at $568,000 after buying 616 additional shares in the last quarter. Institutional investors hold 53.23% of the company’s shares.

Enbridge Company Profile

(Get a rating)

Enbridge Inc 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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