TD Securities Lowers Enbridge (ENB) Price Target to C$57.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target reduced by TD Securities from C$61.00 to C$57.00 in a research note released on Tuesday. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on ENB. Canaccord Genuity decreased their price target on shares of Enbridge from C$54.00 to C$52.00 in a research note on Wednesday, February 14th. Royal Bank of Canada decreased their price target on shares of Enbridge from C$63.00 to C$59.00 and set an outperform rating for the company in a research note on Wednesday, December 13th. BMO Capital Markets decreased their price target on shares of Enbridge from C$66.00 to C$63.00 in a research note on Tuesday, February 6th. Scotiabank decreased their price target on shares of Enbridge from C$62.00 to C$61.00 and set an outperform rating for the company in a research note on Friday, November 3rd. Finally, CIBC decreased their price target on shares of Enbridge from C$67.00 to C$63.00 in a research note on Friday, December 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Enbridge currently has a consensus rating of Buy and an average target price of C$59.28.

Enbridge (TSE:ENB) opened at C$43.06 on Tuesday. Enbridge has a 12 month low of C$42.00 and a 12 month high of C$57.75. The stock has a market cap of $72,990.00, a P/E ratio of 25.48 and a beta of 0.18.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be paid a $0.671 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.23%. This is an increase from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s payout ratio is currently 142.78%.

In other Enbridge news, insider Vernon Dai-Chung Yu sold 9,700 shares of the firm’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 firm’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. In the last three months, insiders have sold 13,719 shares of company stock worth $687,970.

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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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