Enbridge (ENB) PT Lowered to C$59.00 at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lowered by stock analysts at Scotiabank from C$60.00 to C$59.00 in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 36.20% from the stock’s current price.

Several other analysts also recently weighed in on the company. TD Securities cut their price target on 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 cut 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. CIBC cut their price target on Enbridge from C$69.00 to C$67.00 in a research note on Friday, November 3rd. National Bank Financial cut 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. Finally, BMO Capital Markets cut their price target on Enbridge from C$66.00 to C$63.00 in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$59.28.

Enbridge (ENB) traded up C$0.37 during trading on Tuesday, hitting C$43.32. The company had a trading volume of 1,538,868 shares, compared to its average volume of 3,160,318. The stock has a market cap of $72,800.00, a P/E ratio of 22.07 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.

In related news, Director Michael E.J. Phelps sold 900 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$50.06, for a total value of C$45,054.00. Also, 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 value of C$486,940.00. Insiders sold a total of 13,719 shares of company stock worth $687,970 in the last 90 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.

Analyst Recommendations for Enbridge (TSE:ENB)

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