Enbridge Inc (ENB) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) from a strong sell rating to a sell rating in a research note published on Saturday morning.

A number of other equities research analysts have also recently commented on ENB. Credit Suisse Group initiated coverage on shares of Enbridge in a report on Tuesday, March 14th. They issued an outperform rating and a $70.00 price target on the stock. Wells Fargo & Company reaffirmed a market perform rating on shares of Enbridge in a report on Friday, March 31st. Zacks Investment Research cut shares of Enbridge from a hold rating to a strong sell rating in a report on Monday, April 24th. Morgan Stanley initiated coverage on shares of Enbridge in a report on Tuesday, May 2nd. They issued an equal weight rating and a $45.00 price target on the stock. Finally, Wolfe Research initiated coverage on shares of Enbridge in a report on Friday, May 12th. They issued a market perform rating and a $43.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $55.22.

Analyst Recommendations for Enbridge (NYSE:ENB)

Enbridge (ENB) traded up 0.85% during mid-day trading on Friday, reaching $39.35. The company’s stock had a trading volume of 3,501,338 shares. Enbridge has a 52-week low of $37.37 and a 52-week high of $45.77. The firm has a 50 day moving average price of $39.46 and a 200 day moving average price of $41.49. The company has a market cap of $64.49 billion, a price-to-earnings ratio of 43.58 and a beta of 0.61.

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The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were paid a $0.4435 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.77 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Thursday, May 11th. Enbridge’s dividend payout ratio is presently 208.14%.

Institutional investors have recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co increased its position in Enbridge by 0.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 35,126 shares of the pipeline company’s stock worth $1,470,000 after buying an additional 126 shares during the last quarter. Capital Asset Advisory Services LLC increased its position in Enbridge by 2.2% in the first quarter. Capital Asset Advisory Services LLC now owns 6,741 shares of the pipeline company’s stock worth $282,000 after buying an additional 143 shares during the last quarter. Bluestein R H & Co. increased its position in Enbridge by 1.3% in the first quarter. Bluestein R H & Co. now owns 15,196 shares of the pipeline company’s stock worth $636,000 after buying an additional 196 shares during the last quarter. Atwood & Palmer Inc. increased its position in Enbridge by 8.8% in the first quarter. Atwood & Palmer Inc. now owns 2,721 shares of the pipeline company’s stock worth $114,000 after buying an additional 221 shares during the last quarter. Finally, Warren Averett Asset Management LLC increased its position in Enbridge by 6.0% in the first quarter. Warren Averett Asset Management LLC now owns 6,684 shares of the pipeline company’s stock worth $280,000 after buying an additional 376 shares during the last quarter. 62.93% of the stock is owned by institutional investors.

Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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