Enbridge (ENB) Given New C$57.00 Price Target at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its target price lowered by Scotiabank from C$59.00 to C$57.00 in a research note issued to investors on Friday, March 16th. Scotiabank currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity cut their target price on Enbridge from C$54.00 to C$52.00 in a research report on Wednesday, February 14th. TD Securities cut their target price on Enbridge from C$62.00 to C$61.00 and set a buy rating on the stock in a research report on Thursday, December 14th. National Bank Financial cut their target price on Enbridge from C$63.00 to C$60.00 and set an outperform rating on the stock in a research report on Thursday, November 30th. BMO Capital Markets reissued an outperform rating and issued a C$66.00 price objective on shares of Enbridge in a research report on Wednesday, December 13th. Finally, CIBC cut their price objective on Enbridge from C$67.00 to C$63.00 in a research report on Friday, December 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of C$56.23.

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Shares of ENB traded down C$0.32 during mid-day trading on Friday, reaching C$39.86. 4,153,142 shares of the company were exchanged, compared to its average volume of 3,586,383. Enbridge has a 52 week low of C$38.02 and a 52 week high of C$57.75.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, February 16th. The company reported C$0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of C$12.89 billion during the quarter, compared to the consensus estimate of C$11.73 billion.

In other news, insider Robert Ross Rooney bought 6,100 shares of the stock in a transaction on Thursday, March 15th. The shares were purchased 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 business’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of C$40.00, for a total value of C$40,360.00. In the last three months, insiders acquired 7,100 shares of company stock worth $290,630.

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Enbridge Company Profile

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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