A number of other research analysts also recently 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. 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, November 3rd. 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, November 3rd. National Bank Financial lowered their price target 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, Canaccord Genuity reduced their price objective on Enbridge from C$59.00 to C$54.00 in a research report on Thursday, November 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of C$60.47.
Shares of Enbridge (TSE ENB) traded down C$0.24 during trading hours on Thursday, hitting C$49.32. The stock had a trading volume of 4,113,851 shares, compared to its average volume of 2,995,723. Enbridge has a 1 year low of C$43.91 and a 1 year high of C$58.28.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be given a dividend of $0.671 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s dividend payout ratio is 119.03%.
In other Enbridge news, Director Wanda Marie Opheim sold 28,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total value of C$1,428,000.00. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of C$52.07, for a total value of C$686,230.53. In the last quarter, insiders have sold 107,018 shares of company stock valued at $5,109,393.
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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