Enbridge (TSE:ENB) (NYSE:ENB) had its target price reduced by BMO Capital Markets from C$70.00 to C$66.00 in a report published on Thursday. BMO Capital Markets currently has an outperform rating on the stock.
A number of other brokerages have also recently weighed in on ENB. TD Securities lifted their price target on Enbridge from C$62.00 to C$64.00 and gave the stock a buy rating in a research note on Tuesday, August 8th. CIBC dropped their price target on Enbridge from C$71.00 to C$69.00 in a research note on Tuesday, October 17th. National Bank Financial dropped their price target on Enbridge from C$67.00 to C$63.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. Royal Bank Of Canada dropped their price target on Enbridge from C$64.00 to C$63.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. Finally, Scotiabank dropped their price target on Enbridge from C$62.00 to C$61.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of C$61.03.
Enbridge (ENB) opened at C$48.63 on Thursday. Enbridge has a 12 month low of C$43.91 and a 12 month high of C$58.28.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, November 29th will be paid a dividend of $0.671 per share. This represents a $2.68 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s payout ratio is 119.03%.
In other Enbridge news, Director Wanda Marie Opheim sold 28,000 shares of Enbridge stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total transaction of C$1,428,000.00. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of Enbridge stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of C$52.07, for a total value of C$686,230.53. In the last ninety days, insiders have acquired 10,156 shares of company stock worth $499,357 and have sold 103,999 shares worth $4,958,443.
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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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