Enbridge (ENB) Price Target Cut to C$57.00


Enbridge (TSE:ENB) (NYSE:ENB) had its price target cut by CIBC from C$60.00 to C$57.00 in a report issued on Tuesday.

A number of other research analysts also recently issued reports on ENB. GMP Securities set a C$56.00 price target on Enbridge in a report on Friday, May 11th. Royal Bank of Canada decreased their price target on Enbridge from C$59.00 to C$54.00 and set an outperform rating for the company in a report on Friday, May 11th. BMO Capital Markets decreased their price target on Enbridge from C$63.00 to C$61.00 in a report on Friday, March 16th. Mizuho reissued a neutral rating and issued a C$45.00 price target on shares of Enbridge in a report on Thursday, March 29th. Finally, Scotiabank decreased their price target on Enbridge from C$59.00 to C$57.00 and set an outperform rating for the company in a report on Friday, March 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of C$54.50.


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Shares of Enbridge opened at C$40.49 on Tuesday, MarketBeat reports. Enbridge has a 12-month low of C$37.36 and a 12-month high of C$54.05.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be given a $0.671 dividend. 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 Bradley Francis Shamla sold 1,610 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of C$42.75, for a total value of C$68,827.50. Also, insider Robert Ross Rooney acquired 6,100 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was acquired at an average price of C$40.80 per share, with a total value of C$248,880.00. Over the last 90 days, insiders bought 7,100 shares of company stock valued at $290,630 and 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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