Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets lowered their target price on Enbridge from C$66.00 to C$63.00 in a report on Tuesday, February 6th. TD Securities lowered their target price on Enbridge from C$62.00 to C$61.00 and set a buy rating for the company in a report on Thursday, December 14th. Royal Bank of Canada lowered their target price on Enbridge from C$63.00 to C$59.00 and set an outperform rating for the company in a report on Wednesday, December 13th. CIBC decreased their price objective on Enbridge from C$67.00 to C$63.00 in a research note on Friday, December 1st. Finally, Scotiabank decreased their price objective on Enbridge from C$61.00 to C$60.00 and set an outperform rating for the company in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Enbridge currently has a consensus rating of Buy and a consensus price target of C$59.91.
Shares of Enbridge (TSE:ENB) opened at C$42.95 on Wednesday. Enbridge has a 1-year low of C$42.00 and a 1-year high of C$57.75. The firm has a market capitalization of $72,800.00, a price-to-earnings ratio of 21.91 and a beta of 0.18.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be paid a dividend of $0.671 per share. 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 dividend yield of 6.25%. The ex-dividend date is Wednesday, February 14th. Enbridge’s dividend payout ratio is 119.03%.
In related news, Director Michael E.J. Phelps sold 900 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total transaction of C$45,054.00. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of C$50.20, for a total value of C$486,940.00. Insiders have sold a total of 13,719 shares of company stock valued at $687,970 over the last 90 days.
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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