Enbridge Inc (TSE:ENB) (NYSE:ENB) has received a consensus rating of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$59.91.
Several equities research analysts recently weighed in on the company. Canaccord Genuity decreased their price objective on Enbridge from C$59.00 to C$54.00 in a report on Thursday, November 30th. National Bank Financial decreased their price objective on Enbridge from C$67.00 to C$63.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. TD Securities decreased their price objective on Enbridge from C$62.00 to C$61.00 and set a “buy” rating for the company in a report on Thursday, December 14th. CIBC decreased their price objective on Enbridge from C$69.00 to C$67.00 in a report on Friday, November 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a C$66.00 price objective on shares of Enbridge in a report on Wednesday, December 13th.
Shares of Enbridge (TSE ENB) traded down C$0.28 on Tuesday, reaching C$42.95. The company had a trading volume of 3,607,300 shares, compared to its average volume of 3,320,000. Enbridge has a 52 week low of C$42.00 and a 52 week high of C$57.75. The stock has a market cap of $72,800.00, a price-to-earnings ratio of 21.91 and a beta of 0.18.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders 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 6.25%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s payout ratio is presently 119.03%.
In other Enbridge news, insider Bradley Francis Shamla sold 3,019 shares of Enbridge stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$50.00, for a total transaction of C$150,950.00. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of Enbridge stock in a transaction dated 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 have sold a total of 13,719 shares of company stock valued at $687,970 in the last ninety days.
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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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