National Bank Financial Cuts Enbridge Inc (ENB) Price Target to C$63.00
Enbridge Inc (TSE:ENB) (NYSE:ENB) had its target price decreased by National Bank Financial from C$67.00 to C$63.00 in a report issued on Friday morning. National Bank Financial currently has an outperform rating on the stock.
A number of other equities analysts have also issued reports on the company. CIBC lowered their price target on Enbridge from C$71.00 to C$69.00 in a report on Tuesday, October 17th. Royal Bank Of Canada lowered their price target on Enbridge from C$64.00 to C$63.00 and set an outperform rating on the stock in a report on Friday. TD Securities raised their price target on Enbridge from C$62.00 to C$64.00 and gave the stock a buy rating in a report on Tuesday, August 8th. Finally, Scotiabank lowered 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of C$63.66.
Enbridge (ENB) opened at C$46.85 on Friday. Enbridge has a twelve month low of C$46.61 and a twelve month high of C$58.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Tuesday, November 14th.
In other news, Director Michael E.J. Phelps sold 6,300 shares of Enbridge stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of C$41.42, for a total transaction of C$260,946.00. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of Enbridge stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of C$52.07, for a total transaction of C$686,230.53. In the last ninety days, insiders acquired 10,056 shares of company stock worth $502,753 and sold 101,299 shares worth $4,894,048.
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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