CIBC Trims Enbridge (TSE:ENB) Target Price to C$60.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective cut by CIBC from C$63.00 to C$60.00 in a research note published on Friday, March 16th.

Other analysts have also recently issued research reports about the company. Canaccord Genuity decreased their target price on Enbridge from C$54.00 to C$52.00 in a report on Wednesday, February 14th. TD Securities cut their price target on Enbridge from C$62.00 to C$61.00 and set a buy rating on the stock in a research note on Thursday, December 14th. National Bank Financial cut their price target on Enbridge from C$63.00 to C$60.00 and set an outperform rating on the stock in a research note on Thursday, November 30th. BMO Capital Markets reaffirmed an outperform rating and set a C$66.00 price target on shares of Enbridge in a research note on Wednesday, December 13th. Finally, Scotiabank cut their target price on 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 given a buy rating to the company’s stock. Enbridge presently has a consensus rating of Buy and an average price target of C$56.23.

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ENB opened at C$39.86 on Friday. Enbridge has a 1 year low of C$38.02 and a 1 year high of C$57.75.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, February 16th. The company reported C$0.61 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.53 by C$0.08. Enbridge had a return on equity of 6.04% and a net margin of 11.00%. The firm had revenue of C$12.89 billion for the quarter, compared to analysts’ expectations of C$11.73 billion.

In other news, insider Robert Ross Rooney acquired 6,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was acquired at an average cost of C$40.80 per share, for a total transaction of C$248,880.00. Also, insider Bradley Francis Shamla sold 1,009 shares of the stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of C$40.00, for a total value of C$40,360.00. Insiders acquired 7,100 shares of company stock valued at $290,630 over the last 90 days.

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About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

Analyst Recommendations for Enbridge (TSE:ENB)

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