5 Stocks Pulling The Basic Materials Sector Downward

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 66 points (0.4%) at 14,999 as of Wednesday, July 3, 2013, 12:51 PM ET. The NYSE advances/declines ratio sits at 1,256 issues advancing vs. 1,690 declining with 89 unchanged.

The Basic Materials sector currently sits down 0.1% versus the S&P 500, which is up 0.2%. A company within the sector that fell today was Ecopetrol S.A ( EC), up 0.8%. Top gainers within the sector include Petroleo Brasileiro SA Petrobras ( PBR.A), up 1.5%, LyondellBasell Industries ( LYB), up 1.4%, PetroChina ( PTR), up 0.9%, Eni SpA ( E), up 0.7% and Schlumberger ( SLB), up 0.7%.

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 $0.34 (-0.8%) to $42.18 on average volume. Thus far, 646,381 shares of Enbridge exchanged hands as compared to its average daily volume of 944,100 shares. The stock has ranged in price between $41.78-$42.46 after having opened the day at $42.31 as compared to the previous trading day's close of $42.52.

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 1.8% 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.

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