Enbridge (ENB) Price Target Raised to C$47.00 at Citigroup
Enbridge (TSE:ENB) (NYSE:ENB) had its price objective boosted by Citigroup from C$44.00 to C$47.00 in a research note issued to investors on Monday morning. Citigroup currently has a neutral rating on the stock.
Several other research firms also recently weighed in on ENB. Royal Bank of Canada raised their target price on Enbridge from C$54.00 to C$59.00 and gave the company an outperform rating in a research report on Tuesday, August 7th. GMP Securities raised their target price on Enbridge from C$55.00 to C$57.00 in a research report on Thursday, July 5th. Finally, BMO Capital Markets raised their target price on Enbridge from C$59.00 to C$60.00 in a research report on Tuesday, September 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of C$54.27.
TSE ENB opened at C$42.30 on Monday. Enbridge has a 1-year low of C$37.36 and a 1-year high of C$52.59.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Saturday, September 1st were given a dividend of $0.671 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.35%.
In related news, insider Bradley Francis Shamla sold 2,895 shares of Enbridge stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of C$47.05, for a total transaction of C$136,209.75.
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.
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