Analysts Set Enbridge Inc (ENB) Target Price at $60.53
Enbridge Inc (TSE:ENB) (NYSE:ENB) has received an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$60.53.
A number of research analysts have issued reports on ENB shares. CIBC lowered their price objective on Enbridge from C$71.00 to C$69.00 in a research note on Tuesday, October 17th. 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 note on Friday, November 3rd. Scotiabank decreased their price target on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Royal Bank of Canada decreased their price target on Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Finally, National Bank Financial decreased their price target on Enbridge from C$67.00 to C$63.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd.
Shares of Enbridge (ENB) traded up C$0.04 during trading hours on Friday, reaching C$49.29. The company’s stock had a trading volume of 3,220,000 shares, compared to its average volume of 2,590,000. The stock has a market capitalization of $83,160.00, a PE ratio of 25.15 and a beta of 0.29. Enbridge has a 1-year low of C$43.91 and a 1-year high of C$58.28.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, November 29th will be paid a $0.671 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.45%. This is a boost from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s payout ratio is currently 119.03%.
In related news, Director Michael E.J. Phelps sold 900 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total transaction of C$45,054.00. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of C$50.20, for a total value of C$486,940.00. Insiders sold 16,419 shares of company stock valued at $752,365 in the last 90 days.
Enbridge Company Profile
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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