Enbridge (ENB) Given New C$59.00 Price Target at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its price target cut by Scotiabank from C$60.00 to C$59.00 in a research note issued to investors on Tuesday morning. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. TD Securities decreased their target price on shares of Enbridge from C$64.00 to C$62.00 and set a buy rating on the stock in a research report on Friday, November 3rd. Royal Bank of Canada decreased their target price on shares of Enbridge from C$64.00 to C$63.00 and set an outperform rating on the stock in a research report on Friday, November 3rd. CIBC decreased their target price on shares of Enbridge from C$69.00 to C$67.00 in a research report on Friday, November 3rd. National Bank Financial decreased 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 research report on Friday, November 3rd. Finally, BMO Capital Markets decreased their target price on shares of Enbridge from C$66.00 to C$63.00 in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of C$59.28.

Shares of Enbridge (TSE:ENB) opened at C$43.06 on Tuesday. The company has a market cap of $72,990.00, a price-to-earnings ratio of 25.48 and a beta of 0.18. Enbridge has a 1 year low of C$42.00 and a 1 year high of C$57.75.

The firm 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 $0.671 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a dividend yield of 6.23%. Enbridge’s payout ratio is currently 142.78%.

In related news, insider Vernon Dai-Chung Yu sold 9,700 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of C$50.20, for a total value of C$486,940.00. Also, insider Bradley Francis Shamla sold 3,019 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$50.00, for a total transaction of C$150,950.00. Insiders sold a total of 13,719 shares of company stock worth $687,970 over the last quarter.

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About Enbridge

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.

Analyst Recommendations for Enbridge (TSE:ENB)

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