BMO Capital Markets Lowers Enbridge (ENB) Price Target to C$63.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lowered by BMO Capital Markets from C$66.00 to C$63.00 in a note issued to investors on Tuesday. BMO Capital Markets’ price target would suggest a potential upside of 44.43% from the company’s current price.

ENB has been the subject of a number of other reports. CIBC decreased their price objective on Enbridge from C$71.00 to C$69.00 in a research note on Tuesday, October 17th. Royal Bank of Canada decreased their price objective on Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Scotiabank decreased their price objective on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. TD Securities decreased their price objective on Enbridge from C$64.00 to C$62.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Finally, Canaccord Genuity reduced their target price on Enbridge from C$59.00 to C$54.00 in a research report on Thursday, November 30th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Enbridge presently has a consensus rating of “Buy” and a consensus price target of C$60.16.

Shares of Enbridge (ENB) traded up C$0.56 during midday trading on Tuesday, hitting C$43.62. The company had a trading volume of 4,003,522 shares, compared to its average volume of 2,813,696. The stock has a market cap of $72,400.00, a PE ratio of 21.87 and a beta of 0.18. Enbridge has a 1 year low of C$42.20 and a 1 year high of C$57.75.

In other news, Director Michael E.J. Phelps sold 900 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total value of C$45,054.00. Also, insider Laszlo Varsanyi sold 2,700 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of C$23.85, for a total value of C$64,395.00. Insiders have sold a total of 16,419 shares of company stock worth $752,365 over the last ninety days.

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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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