Enbridge Income Fund (ENF) Price Target Lowered to C$36.00 at Scotiabank
Enbridge Income Fund (TSE:ENF) had its price target cut by Scotiabank from C$38.00 to C$36.00 in a research note issued to investors on Tuesday morning. They currently have an outperform rating on the stock.
Several other brokerages also recently issued reports on ENF. CIBC boosted their target price on shares of Enbridge Income Fund from C$36.00 to C$37.00 in a research note on Thursday, January 11th. BMO Capital Markets cut their target price on shares of Enbridge Income Fund from C$35.00 to C$34.00 in a research note on Friday, November 3rd. TD Securities dropped their price target on shares of Enbridge Income Fund from C$37.00 to C$33.00 and set a buy rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of Enbridge Income Fund from C$35.00 to C$33.00 and set a sector perform rating on the stock in a research note on Friday, November 3rd. Finally, National Bank Financial dropped their price target on shares of Enbridge Income Fund from C$38.00 to C$35.00 and set a sector perform rating on the stock in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of C$33.29.
Shares of Enbridge Income Fund (TSE ENF) opened at C$27.64 on Tuesday. Enbridge Income Fund has a one year low of C$26.36 and a one year high of C$35.00. The stock has a market cap of $4,800.00, a price-to-earnings ratio of 13.04 and a beta of 0.19.
In related news, Director John Richard Bird purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of C$27.99 per share, with a total value of C$111,960.00.
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Enbridge Income Fund Company Profile
Enbridge Income Fund Holdings Inc, through its investment in Enbridge Income Fund, holds energy infrastructure assets. The Company’s business is limited to ownership of its interest in Enbridge Income Fund (the Fund). The Fund’s objective is to pay out a high proportion of available cash in the form of dividends to shareholders.
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