Enbridge (TSE:ENB) (NYSE:ENB) had its price target trimmed by Canaccord Genuity from C$54.00 to C$52.00 in a research note released on Wednesday, February 14th.
Other analysts have also recently issued reports about the company. CIBC lowered their target price on Enbridge from C$67.00 to C$63.00 in a research note on Friday, December 1st. BMO Capital Markets reduced their price target on Enbridge from C$66.00 to C$63.00 in a research report on Tuesday, February 6th. TD Securities reduced their price target on Enbridge from C$64.00 to C$62.00 and set a buy rating for the company in a research report on Friday, November 3rd. Royal Bank of Canada cut their price objective on Enbridge from C$63.00 to C$59.00 and set an outperform rating for the company in a report on Wednesday, December 13th. Finally, Scotiabank cut their price target on Enbridge from C$61.00 to C$60.00 and set an outperform rating for the company in a report on Thursday, November 30th. One equities 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 price target of C$59.28.
Shares of Enbridge (TSE ENB) traded down C$0.25 during mid-day trading on Wednesday, hitting C$43.05. The stock had a trading volume of 1,631,614 shares, compared to its average volume of 3,131,763. Enbridge has a one year low of C$42.00 and a one year high of C$57.75. The company has a market cap of $73,210.00, a PE ratio of 25.56 and a beta of 0.18.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be given a $0.671 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.23%. This is a boost from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s dividend payout ratio (DPR) is presently 142.78%.
In other news, insider Vernon Dai-Chung Yu sold 9,700 shares of Enbridge stock in a transaction dated Monday, December 18th. The stock was sold at an average price of C$50.20, for a total transaction of C$486,940.00. Also, Director Michael E.J. Phelps sold 900 shares of Enbridge stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$50.06, for a total value of C$45,054.00. Insiders sold 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.
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