CIBC Raises Enbridge Income Fund (ENF) Price Target to C$37.00

Enbridge Income Fund (TSE:ENF) had its price target lifted by CIBC from C$36.00 to C$37.00 in a research note published on Thursday.

ENF has been the subject of several other reports. Scotiabank lowered their price objective on Enbridge Income Fund from C$38.00 to C$37.00 and set an outperform rating for the company in a research report on Friday, November 3rd. TD Securities raised their price target on Enbridge Income Fund from C$36.00 to C$37.00 and gave the stock a buy rating in a research report on Friday, December 8th. National Bank Financial lowered their price target on Enbridge Income Fund from C$38.00 to C$35.00 and set a sector perform rating for the company in a research report on Friday, November 3rd. BMO Capital Markets restated a market perform rating and set a C$33.00 price target on shares of Enbridge Income Fund in a research report on Friday, December 8th. Finally, Royal Bank of Canada lowered their price target on Enbridge Income Fund from C$35.00 to C$33.00 and set a sector perform rating for the company in a research report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of C$35.50.

Enbridge Income Fund (TSE ENF) opened at C$29.21 on Thursday. The firm has a market capitalization of $5,060.00, a P/E ratio of 13.84 and a beta of 0.30. Enbridge Income Fund has a 52-week low of C$27.93 and a 52-week high of C$36.31.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 15th will be paid a $0.1883 dividend. This is a boost from Enbridge Income Fund’s previous monthly dividend of $0.17. This represents a $2.26 annualized dividend and a dividend yield of 7.74%. The ex-dividend date is Tuesday, January 30th. Enbridge Income Fund’s dividend payout ratio (DPR) is presently 95.09%.

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About Enbridge Income Fund

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.

Analyst Recommendations for Enbridge Income Fund (TSE:ENF)

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