Enbridge Inc (USA) (ENB) is Downgraded by National Bank Financial to Sector Perform

Enbridge Inc (USA) (ENB) was Downgraded by National Bank Financial to ” Sector Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. National Bank Financial advised their investors in a research report released on Jul 18, 2016.

On the company’s financial health, Enbridge Inc (USA) reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.63. The company had revenue of $8795.00 million for the quarter, compared to analysts expectations of $12977.32 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Enbridge Inc (USA) closed down -0.08 points or -0.19% at $41.71 with 8,68,364 shares getting traded on Friday. Post opening the session at $41.97, the shares hit an intraday low of $41.42 and an intraday high of $42 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Enbridge Inc. (Enbridge) is an energy transportation and distribution company. The Company operates in five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines Processing and Energy Services; Sponsored Investments and Corporate. Liquids Pipelines segment owns and operates crude oil and other liquid hydrocarbons pipelines and terminals. Gas Distribution consists of the Company’s natural gas utility operations. Gas Pipelines Processing and Energy Services segment consists of investments in natural gas pipelines gathering and processing facilities and the Company’s energy services businesses along with renewable energy and transmission facilities. Sponsored Investments includes the Company’s 33.7% economic interest in Enbridge Energy Partners L.P. (EEP) and Enbridge’s interests in both the Eastern Access and Lakehead System Mainline expansion projects held through Enbridge Energy Limited Partnership (EELP). The Corporate segment includes an investment in Noverco Inc.

Enbridge Inc (USA)

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