National Bank Financial Analysts Reduce Earnings Estimates for Enbridge Inc (ENB)
Enbridge Inc (TSE:ENB) (NYSE:ENB) – Analysts at National Bank Financial decreased their FY2018 earnings per share (EPS) estimates for Enbridge in a research report issued on Wednesday. National Bank Financial analyst P. Kenny now forecasts that the company will earn $2.63 per share for the year, down from their previous estimate of $2.66. National Bank Financial has a “Outperform” rating and a $60.00 price target on the stock.
Several other brokerages also recently issued reports on ENB. CIBC cut their price target on Enbridge from C$71.00 to C$69.00 in a report on Tuesday, October 17th. Royal Bank of Canada cut their price target on Enbridge from C$63.00 to C$59.00 and set an “outperform” rating on the stock in a report on Wednesday. Scotiabank cut their price target on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. BMO Capital Markets cut their price target on Enbridge from C$70.00 to C$66.00 and set an “outperform” rating on the stock in a report on Thursday, November 30th. Finally, TD Securities lowered their target price on Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$60.47.
In other news, Director Michael E.J. Phelps sold 900 shares of Enbridge stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total transaction of C$45,054.00. Also, insider Laszlo Varsanyi sold 2,700 shares of Enbridge stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of C$23.85, for a total value of C$64,395.00. Over the last 90 days, insiders sold 107,918 shares of company stock worth $5,154,447.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be given a $0.671 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a yield of 5.38%. The ex-dividend date is Wednesday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 119.03%.
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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