CIBC Cuts Enbridge Inc (ENB) Price Target to C$67.00
Enbridge Inc (TSE:ENB) (NYSE:ENB) had its price objective lowered by analysts at CIBC from C$69.00 to C$67.00 in a research report issued on Friday. CIBC’s price objective suggests a potential upside of 43.01% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. TD Securities upped their price target on shares of Enbridge from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Scotiabank decreased their price target on shares of Enbridge from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and an average target price of C$63.66.
Enbridge (TSE:ENB) traded down C$0.18 during trading on Friday, reaching C$46.85. The company had a trading volume of 3,250,000 shares, compared to its average volume of 2,210,000. Enbridge has a fifty-two week low of C$46.61 and a fifty-two week high of C$58.56.
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In related news, Director Gregory Lorne Ebel sold 25,820 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of C$41.49, for a total value of C$1,071,271.80. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of C$52.07, for a total transaction of C$686,230.53. Over the last three months, insiders purchased 10,056 shares of company stock valued at $502,753 and sold 101,299 shares valued at $4,894,048.
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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