Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week low on Wednesday . The company traded as low as C$43.97 and last traded at C$44.54, with a volume of 3195093 shares trading hands. The stock had previously closed at C$46.14.

Several research firms have recently issued reports on ENB. TD Securities raised their price target on shares of Enbridge from C$62.00 to C$64.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. CIBC cut their price target on shares of Enbridge from C$69.00 to C$67.00 in a report on Friday, November 3rd. National Bank Financial dropped their target price on shares of Enbridge from C$67.00 to C$63.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Scotiabank lowered their price target on shares of Enbridge from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Finally, Royal Bank Of Canada cut their price target on shares of Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of C$63.66.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Tuesday, November 14th. Enbridge’s dividend payout ratio is currently 119.03%.

In related news, Director Michael E.J. Phelps sold 6,300 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of C$41.42, for a total value of C$260,946.00. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of the stock in a transaction 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. Over 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.

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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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