Enbridge Inc (ENB) Given Average Rating of “Buy” by Brokerages
Shares of Enbridge Inc (TSE:ENB) (NYSE:ENB) have received a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$60.53.
A number of equities research analysts have recently commented on ENB shares. CIBC reduced their target price on shares of Enbridge from C$71.00 to C$69.00 in a report on Tuesday, October 17th. TD Securities reduced their target price on shares of Enbridge from C$64.00 to C$62.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Scotiabank reduced their target price on shares of Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report 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 for the company in a report on Friday, November 3rd. Finally, National Bank Financial reduced their target price on shares of Enbridge from C$67.00 to C$63.00 and set an “outperform” rating for the company in a report on Friday, November 3rd.
In other news, insider Laszlo Varsanyi sold 2,700 shares of the business’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, insider Vernon Dai-Chung Yu sold 9,700 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of C$50.20, for a total transaction of C$486,940.00. Insiders sold 16,419 shares of company stock valued at $752,365 over the last ninety days.
Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Thursday, November 2nd. The company reported C$0.39 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.06). Enbridge had a net margin of 11.00% and a return on equity of 6.04%.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, November 29th will be issued a $0.671 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.44%. This is a boost from Enbridge’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, February 14th. Enbridge’s dividend payout ratio is presently 119.03%.
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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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