Enbridge Income Fund (TSE:ENF) had its target price hoisted by TD Securities from C$33.00 to C$34.00 in a research note published on Friday. They currently have a buy rating on the stock.
Several other research analysts have also recently weighed in on the stock. CIBC boosted their price objective on shares of Enbridge Income Fund from C$36.00 to C$37.00 in a report on Thursday, January 11th. Scotiabank reduced their target price on shares of Enbridge Income Fund from C$38.00 to C$36.00 and set an outperform rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada reduced their target price on shares of Enbridge Income Fund from C$33.00 to C$31.00 and set a sector perform rating for the company in a report on Tuesday, February 20th. BMO Capital Markets reduced their target price on shares of Enbridge Income Fund from C$33.00 to C$31.00 in a report on Tuesday, February 6th. Finally, Canaccord Genuity reduced their target price on shares of Enbridge Income Fund from C$34.00 to C$30.00 in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of C$33.25.
Enbridge Income Fund opened at C$28.21 on Friday, according to MarketBeat Ratings. Enbridge Income Fund has a twelve month low of C$26.36 and a twelve month high of C$33.69.
Enbridge Income Fund (TSE:ENF) last released its quarterly earnings data on Thursday, May 10th. The company reported C$0.64 earnings per share for the quarter, beating the consensus estimate of C$0.57 by C$0.07. Enbridge Income Fund had a net margin of 100.00% and a return on equity of 7.08%. The firm had revenue of C$112.00 million during the quarter, compared to analysts’ expectations of C$109.26 million.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be issued a dividend of $0.188 per share. The ex-dividend date of this dividend is Friday, April 27th. This represents a $2.26 dividend on an annualized basis and a yield of 8.00%.
In other Enbridge Income Fund news, Director John Richard Bird bought 4,000 shares of Enbridge Income Fund stock in a transaction on Wednesday, February 21st. The stock was acquired at an average cost of C$27.99 per share, with a total value of C$111,960.00.
Enbridge Income Fund Company Profile
Enbridge Income Fund Holdings Inc, through its investment in Enbridge Income Fund, holds energy infrastructure assets in Canada. The company holds interests in the 2,306-kilometre Canadian Mainline, the Regional Oil Sands System, and Southern Lights Pipeline, as well as other crude oil gathering pipelines and storage facilities in Alberta, Saskatchewan, Manitoba, Ontario, and Quebec; and crude oil storage terminals and caverns in Hardisty, Alberta.
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