Enbridge (ENB) Given New C$52.00 Price Target at Canaccord Genuity

Enbridge (TSE:ENB) (NYSE:ENB) had its price target trimmed by Canaccord Genuity from C$54.00 to C$52.00 in a report issued on Wednesday.

Other analysts have also recently issued reports about the stock. CIBC dropped their price target on shares of Enbridge from C$67.00 to C$63.00 in a research note on Friday, December 1st. BMO Capital Markets dropped their price target on shares of Enbridge from C$66.00 to C$63.00 in a research note on Tuesday, February 6th. TD Securities dropped their price target on shares of Enbridge from C$64.00 to C$62.00 and set a buy rating on the stock in a research note on Friday, November 3rd. Royal Bank of Canada dropped their price target on shares of Enbridge from C$63.00 to C$59.00 and set an outperform rating on the stock in a research note on Wednesday, December 13th. Finally, Scotiabank dropped their price target on shares of Enbridge from C$61.00 to C$60.00 and set an outperform rating on the stock in a research note on Thursday, November 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of C$59.91.

Shares of Enbridge (TSE:ENB) opened at C$42.86 on Wednesday. The company has a market cap of $72,650.00, a P/E ratio of 21.87 and a beta of 0.18. Enbridge has a 52 week low of C$42.00 and a 52 week high of C$57.75.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be issued a dividend of $0.671 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s dividend payout ratio is 119.03%.

In related news, insider Vernon Dai-Chung Yu sold 9,700 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of C$50.20, for a total transaction of C$486,940.00. Also, insider Bradley Francis Shamla sold 3,019 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of C$50.00, for a total transaction of C$150,950.00. Insiders have sold a total of 13,719 shares of company stock worth $687,970 in the last ninety days.

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About Enbridge

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.

Analyst Recommendations for Enbridge (TSE:ENB)

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