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5 Stocks Pushing The Basic Materials Sector Downward

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average (^DJI) trading down 19 points (-0.1%) at 15,282 as of Wednesday, July 10, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,222 issues advancing vs. 1,685 declining with 126 unchanged.

The Basic Materials sector currently sits down 0.1% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include Phillips 66 (PSX), down 3.2%, Marathon Petroleum (MPC), down 2.6%, Ecopetrol S.A (EC), down 1.5%, Apache Corporation (APA), down 1.2% and Exxon Mobil Corporation (XOM), down 0.9%. Top gainers within the sector include Canadian Natural Resources (CNQ), up 1.2%, BP (BP), up 1.2%, Statoil ASA (STO), up 0.9%, Petroleo Brasileiro SA Petrobras (PBR), up 0.9% and LyondellBasell Industries (LYB), up 0.6%.

TheStreet would like to highlight 5 stocks pushing the sector lower today:

5. Enbridge (ENB) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Enbridge is down $0.38 (-0.9%) to $42.71 on light volume. Thus far, 200,880 shares of Enbridge exchanged hands as compared to its average daily volume of 972,600 shares. The stock has ranged in price between $42.65-$43.18 after having opened the day at $43.12 as compared to the previous trading day's close of $43.09.

Enbridge Inc. operates as an energy transportation and distribution company in the United States and Canada. Its Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals. Enbridge has a market cap of $34.8 billion and is part of the energy industry. Shares are down 2.5% year to date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Enbridge a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Enbridge as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and increase in net income. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, generally higher debt management risk and disappointing return on equity. Get the full Enbridge Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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