Enbridge Inc (ENB) Price Target Cut to C$67.00 by Analysts at CIBC
A number of other equities analysts have also commented on the stock. Scotiabank decreased their price objective on shares of Enbridge from C$62.00 to C$61.00 and set an outperform rating for the company in a research note on Friday. TD Securities decreased their price objective on shares of Enbridge from C$64.00 to C$62.00 and set a buy rating for the company in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of C$63.66.
Enbridge (ENB) traded down C$0.18 during trading on Friday, reaching C$46.85. 3,250,000 shares of the company were exchanged, compared to its average volume of 2,210,000. Enbridge has a 1 year low of C$46.61 and a 1 year high of C$58.56.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Tuesday, November 14th.
In other Enbridge news, insider Vernon Dai-Chung Yu sold 13,179 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of C$52.07, for a total value of C$686,230.53. Also, Director Gregory Lorne Ebel sold 25,820 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of C$41.49, for a total transaction of C$1,071,271.80. In the last quarter, insiders acquired 10,056 shares of company stock valued at $502,753 and sold 101,299 shares valued at $4,894,048.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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