Enbridge Inc (ENB) Price Target Lowered to C$63.00 at Royal Bank Of Canada
Enbridge Inc (TSE:ENB) (NYSE:ENB) had its target price reduced by Royal Bank Of Canada from C$64.00 to C$63.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 34.57% from the stock’s previous close.
Other analysts have also issued reports about the company. Scotiabank reduced their price objective on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Friday. CIBC reduced their price objective on Enbridge from C$69.00 to C$67.00 in a research note on Friday. Finally, TD Securities reduced their price objective on Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of C$63.66.
Enbridge (ENB) traded down C$2.59 during trading hours on Friday, reaching C$46.82. The company had a trading volume of 2,926,316 shares.
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In other news, Director Gregory Lorne Ebel sold 25,820 shares of Enbridge stock in a transaction dated 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. Also, Director Albert Monaco purchased 9,356 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were purchased at an average cost of C$50.02 per share, for a total transaction of C$467,987.12. Over the last three months, insiders have bought 10,056 shares of company stock worth $502,753 and have sold 101,299 shares worth $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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