Enbridge Inc (TSE:ENB) (NYSE:ENB) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$46.40 and last traded at C$46.52, with a volume of 1192837 shares traded. The stock had previously closed at C$46.83.

A number of brokerages have issued reports on ENB. National Bank Financial reduced their price objective on shares of Enbridge from C$67.00 to C$63.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Royal Bank Of Canada reduced their price objective on shares of Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. CIBC dropped their target price on shares of Enbridge from C$69.00 to C$67.00 in a research note on Friday, November 3rd. Scotiabank dropped their target price on shares of Enbridge from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Finally, TD Securities dropped their target price on shares of Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of C$63.66.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors 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 5.27%. The ex-dividend date of this dividend is Tuesday, November 14th. Enbridge’s payout ratio is currently 119.03%.

In other news, Director Albert Monaco bought 9,356 shares of the stock in a transaction on Friday, September 15th. The shares were acquired at an average cost of C$50.02 per share, for a total transaction of C$467,987.12. 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. Over the last 90 days, insiders have purchased 10,056 shares of company stock worth $502,753 and have sold 101,299 shares worth $4,894,048.

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About Enbridge

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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