Enbridge (ENB) Price Target Cut to C$57.00 by Analysts at CIBC

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective decreased by CIBC from C$60.00 to C$57.00 in a report published on Tuesday morning.

Other equities research analysts also recently issued research reports about the company. GMP Securities set a C$56.00 price target on Enbridge in a report on Friday, May 11th. Canaccord Genuity lowered their price target on Enbridge from C$54.00 to C$52.00 in a report on Wednesday, February 14th. BMO Capital Markets lowered their price target on Enbridge from C$66.00 to C$63.00 in a report on Tuesday, February 6th. Wells Fargo lowered their price target on Enbridge from C$52.00 to C$50.00 in a report on Thursday, March 22nd. Finally, TD Securities lowered their price target on Enbridge from C$61.00 to C$57.00 and set a buy rating for the company in a report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Enbridge presently has a consensus rating of Buy and an average target price of C$54.50.

Shares of Enbridge opened at C$40.49 on Tuesday, according to MarketBeat.com. Enbridge has a fifty-two week low of C$37.36 and a fifty-two week high of C$54.05.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.671 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Monday, May 14th.

In other news, insider Robert Ross Rooney bought 6,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was purchased at an average price of C$40.80 per share, with a total value of C$248,880.00. Also, insider Bradley Francis Shamla sold 1,610 shares of Enbridge stock in a transaction dated Friday, May 11th. The stock was sold at an average price of C$42.75, for a total value of C$68,827.50. In the last ninety days, insiders have purchased 7,100 shares of company stock valued at $290,630 and have sold 3,119 shares valued at $126,193.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

Analyst Recommendations for Enbridge (TSE:ENB)

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