Enbridge Income Fund (TSE:ENF) announced its quarterly earnings data on Friday. The company reported C$0.64 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.63 by C$0.01, Morningstar.com reports. The business had revenue of C$114.00 million during the quarter, compared to analyst estimates of C$113.14 million.
TSE ENF opened at C$30.64 on Friday. Enbridge Income Fund has a 52 week low of C$26.36 and a 52 week high of C$34.29.
The company also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.1883 per share. This represents a $2.26 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Tuesday, October 30th. This is a boost from Enbridge Income Fund’s previous monthly dividend of $0.19.
A number of brokerages recently weighed in on ENF. BMO Capital Markets lifted their price objective on shares of Enbridge Income Fund from C$33.00 to C$34.00 in a report on Tuesday, September 11th. CSFB lifted their price objective on shares of Enbridge Income Fund from C$28.00 to C$32.00 in a report on Tuesday, October 23rd. Royal Bank of Canada lifted their price objective on shares of Enbridge Income Fund from C$31.00 to C$34.00 and gave the company a “sector perform” rating in a report on Tuesday, August 7th. CIBC dropped their price objective on shares of Enbridge Income Fund from C$33.00 to C$31.60 in a report on Wednesday, October 24th. Finally, National Bank Financial lifted their price objective on shares of Enbridge Income Fund from C$29.00 to C$32.50 and gave the company a “tender” rating in a report on Tuesday, August 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$32.76.
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.
See Also: Exchange-Traded Funds (ETFs)
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