Royal Bank Of Canada Trims Enbridge Inc (ENB) Target Price to C$63.00
Enbridge Inc (TSE:ENB) (NYSE:ENB) had its price objective trimmed by Royal Bank Of Canada from C$64.00 to C$63.00 in a report published on Friday morning. The firm currently has an outperform rating on the stock.
Several other research analysts have also weighed in on the company. CIBC lowered their price objective on Enbridge from C$69.00 to C$67.00 in a research report on Friday. Scotiabank lowered their price objective on Enbridge from C$62.00 to C$61.00 and set an outperform rating for the company in a research report on Friday. Finally, TD Securities lowered their price objective on Enbridge from C$64.00 to C$62.00 and set a buy rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of C$63.66.
Enbridge (TSE:ENB) opened at C$46.85 on Friday. Enbridge has a 52-week low of C$46.61 and a 52-week high of C$58.56.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Tuesday, November 14th.
In other Enbridge news, Director Gregory Lorne Ebel sold 25,820 shares of the company’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of C$41.49, for a total transaction of C$1,071,271.80. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of C$52.07, for a total value of C$686,230.53. Over the last 90 days, insiders have acquired 10,056 shares of company stock worth $502,753 and have sold 101,299 shares worth $4,894,048.
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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