Scotiabank Trims Enbridge (ENB) Target Price to C$60.00
A number of other equities analysts also recently issued reports on the company. CIBC dropped their price target on Enbridge from C$71.00 to C$69.00 in a research note on Tuesday, October 17th. TD Securities dropped their price target on 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. Royal Bank Of Canada dropped their price target on Enbridge from C$64.00 to C$63.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. National Bank Financial decreased their target price on Enbridge from C$67.00 to C$63.00 and set an outperform rating on the stock in a report on Friday, November 3rd. Finally, BMO Capital Markets decreased their target price on Enbridge from C$70.00 to C$66.00 and set an outperform rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of C$61.03.
Enbridge (ENB) opened at C$48.63 on Thursday. Enbridge has a 52 week low of C$43.91 and a 52 week high of C$58.28.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be issued a $0.671 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.61. This represents a $2.68 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Wednesday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 119.03%.
In other Enbridge news, insider Laszlo Varsanyi sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of C$23.85, for a total transaction of C$64,395.00. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of the firm’s stock in a transaction dated 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 ninety days, insiders purchased 10,156 shares of company stock worth $499,357 and sold 103,999 shares worth $4,958,443.
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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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