Enbridge (ENB) Reaches New 1-Year Low at $42.20
Enbridge Inc (TSE:ENB) (NYSE:ENB)’s share price hit a new 52-week low on Friday . The stock traded as low as C$42.20 and last traded at C$42.63, with a volume of 1662462 shares changing hands. The stock had previously closed at C$43.36.
Several equities analysts have recently commented on the stock. Canaccord Genuity lowered their target price on shares of Enbridge from C$59.00 to C$54.00 in a report on Thursday, November 30th. National Bank Financial lowered their target price on shares of Enbridge from C$67.00 to C$63.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. TD Securities lowered their target price 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, December 14th. CIBC lowered their target price on shares of Enbridge from C$69.00 to C$67.00 in a report on Friday, November 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a C$66.00 target price on shares of Enbridge in a report on Wednesday, December 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$60.16.
The company has a market cap of $72,190.00, a price-to-earnings ratio of 21.83 and a beta of 0.18.
In related news, insider Laszlo Varsanyi sold 2,700 shares of the business’s 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. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of C$50.20, for a total transaction of C$486,940.00. Insiders sold 16,419 shares of company stock worth $752,365 in the last three months.
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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