GMP Securities Analysts Give Enbridge (ENB) a C$56.00 Price Target

GMP Securities set a C$56.00 price target on Enbridge (TSE:ENB) (NYSE:ENB) in a research note released on Friday.

ENB has been the subject of several other research reports. Scotiabank cut their price target on Enbridge from C$60.00 to C$59.00 and set an outperform rating for the company in a research note on Tuesday, February 20th. Wells Fargo cut their price target on Enbridge from C$52.00 to C$50.00 in a research note on Thursday, March 22nd. TD Securities cut their price target on Enbridge from C$61.00 to C$57.00 and set a buy rating for the company in a research note on Tuesday, February 20th. 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. Finally, Mizuho reiterated a neutral rating and set a C$45.00 price target on shares of Enbridge in a research note on Thursday, March 29th. 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 a consensus target price of C$54.80.

Shares of Enbridge traded up C$0.89, hitting C$43.14, on Friday, MarketBeat Ratings reports. 6,461,100 shares of the stock were exchanged, compared to its average volume of 3,567,012. Enbridge has a one year low of C$37.36 and a one year high of C$55.54.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.671 per share. The ex-dividend date is Monday, May 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.22%.

In related news, 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 transaction of C$40,360.00. Also, insider Robert Ross Rooney acquired 6,100 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were bought at an average cost of C$40.80 per share, for a total transaction of C$248,880.00. Insiders have purchased a total of 7,100 shares of company stock worth $290,630 in the last three months.

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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