TD Securities Trims Enbridge (ENB) Target Price to C$61.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price reduced by TD Securities from C$62.00 to C$61.00 in a report issued on Thursday, December 14th. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on ENB. CIBC decreased their price target on shares of Enbridge from C$71.00 to C$69.00 in a research note on Tuesday, October 17th. Scotiabank reduced their target price on shares of Enbridge from C$62.00 to C$61.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. Royal Bank of Canada reduced 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 note on Friday, November 3rd. National Bank Financial reduced 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 note on Friday, November 3rd. Finally, BMO Capital Markets reduced their target price on shares of Enbridge from C$70.00 to C$66.00 and set an outperform rating on the stock in a research note on Thursday, November 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of C$60.47.

Enbridge (TSE:ENB) traded down C$0.41 on Thursday, reaching C$50.17. 1,918,525 shares of the company’s stock were exchanged, compared to its average volume of 1,857,467. Enbridge has a 1 year low of C$43.91 and a 1 year high of C$58.28. The firm has a market capitalization of $84,640.00, a P/E ratio of 25.60 and a beta of 0.29.

The business also recently declared 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 is an increase from Enbridge’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.35%. Enbridge’s dividend payout ratio is 119.03%.

In related news, insider Laszlo Varsanyi sold 2,700 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of C$23.85, for a total transaction of C$64,395.00. Also, Director Gregory Lorne Ebel sold 25,820 shares of the company’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of C$41.49, for a total transaction of C$1,071,271.80. In the last quarter, insiders have sold 42,239 shares of company stock worth $1,823,637.

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Enbridge Company Profile

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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