Enbridge Inc (ENB) Given New C$61.00 Price Target at Scotiabank
Enbridge Inc (TSE:ENB) (NYSE:ENB) had its price objective lowered by analysts at Scotiabank from C$62.00 to C$61.00 in a note issued to investors on Friday. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 30.20% from the company’s previous close.
A number of other brokerages also recently issued reports on ENB. TD Securities increased 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. CIBC reduced their target price on shares of Enbridge from C$71.00 to C$69.00 in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Enbridge presently has a consensus rating of “Buy” and a consensus price target of C$63.66.
Enbridge (TSE:ENB) traded down C$0.18 during trading hours on Friday, hitting C$46.85. 3,250,000 shares of the stock were exchanged, compared to its average volume of 2,210,000. Enbridge has a 1 year low of C$46.61 and a 1 year high of C$58.56.
In other news, Director Wanda Marie Opheim sold 28,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of C$51.00, for a total transaction of C$1,428,000.00. Also, Director Albert Monaco bought 9,356 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of C$50.02 per share, with a total value of C$467,987.12. Over the last three months, insiders acquired 10,056 shares of company stock worth $502,753 and sold 101,299 shares worth $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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