Enbridge Inc (TSE:ENB) Given Consensus Recommendation of “Buy” by Analysts
Shares of Enbridge Inc (TSE:ENB) (NYSE:ENB) have been assigned an average rating of “Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$63.33.
Several analysts have recently issued reports on the stock. GMP Securities decreased their target price on shares of Enbridge from C$64.00 to C$61.25 in a research report on Friday, June 16th. Royal Bank Of Canada decreased their target price on shares of Enbridge from C$67.00 to C$64.00 and set an “outperform” rating on the stock in a research report on Monday, June 12th. TD Securities decreased their target price on shares of Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research report on Friday, May 12th. Scotiabank restated an “outperform” rating and set a C$62.00 target price on shares of Enbridge in a research report on Monday, May 1st. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Enbridge in a report on Friday, March 31st.
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Enbridge (TSE:ENB) traded up 1.16% during midday trading on Monday, hitting $51.67. The stock had a trading volume of 1,698,973 shares. Enbridge has a 52 week low of $49.61 and a 52 week high of $59.19. The stock has a market capitalization of $84.68 billion and a price-to-earnings ratio of 42.99. The company’s 50 day moving average price is $52.36 and its 200-day moving average price is $55.23.
In related news, insider Laszlo Varsanyi purchased 1,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was acquired at an average price of C$51.75 per share, with a total value of C$51,750.00. Also, insider William Turner Yardley sold 4,252 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of C$39.81, for a total transaction of C$169,272.12.
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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