FY2018 EPS Estimates for Enbridge Inc (ENB) Lowered by Analyst
Enbridge Inc (TSE:ENB) (NYSE:ENB) – Equities research analysts at National Bank Financial reduced their FY2018 EPS estimates for Enbridge in a research note issued to investors on Wednesday. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $2.63 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.
ENB has been the topic of several other reports. Canaccord Genuity cut their price target on shares of Enbridge from C$59.00 to C$54.00 in a report on Thursday, November 30th. TD Securities cut their price target on shares of Enbridge from C$62.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday. CIBC cut their price target on shares of Enbridge from C$69.00 to C$67.00 in a report on Friday, November 3rd. BMO Capital Markets reiterated an “outperform” rating and set a C$66.00 price target on shares of Enbridge in a report on Wednesday. Finally, Scotiabank cut their price target on shares of Enbridge from C$61.00 to C$60.00 and set an “outperform” rating on the stock in a report on Thursday, November 30th. 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 currently has a consensus rating of “Buy” and an average target price of C$60.47.
Shares of Enbridge (ENB) traded up C$0.57 during trading hours on Friday, reaching C$49.89. 11,157,739 shares of the company traded hands, compared to its average volume of 3,029,450. Enbridge has a one year low of C$43.91 and a one year high of C$58.28.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, November 29th will be given a $0.671 dividend. This represents a $2.68 annualized dividend and a yield of 5.38%. This is a boost from Enbridge’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, February 14th. Enbridge’s payout ratio is 119.03%.
In other news, Director Michael E.J. Phelps sold 6,300 shares of the company’s 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 value of C$260,946.00. Also, Director Wanda Marie Opheim sold 28,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total transaction of C$1,428,000.00. Over the last three months, insiders sold 107,918 shares of company stock valued at $5,154,447.
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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