Enbridge Inc (TSE:ENB) (NYSE:ENB) – Research analysts at National Bank Financial reduced their FY2017 earnings per share estimates for shares of Enbridge in a report issued on Tuesday. National Bank Financial analyst P. Kenny now forecasts that the company will earn $1.77 per share for the year, down from their prior forecast of $1.99. National Bank Financial currently has a “Outperform” rating and a $60.00 target price on the stock. National Bank Financial also issued estimates for Enbridge’s FY2018 earnings at $2.21 EPS.
Other equities analysts have also issued reports about the company. TD Securities cut their price objective on Enbridge from C$62.00 to C$61.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$66.00 price objective on shares of Enbridge in a research note on Wednesday, December 13th. Scotiabank cut their price objective on Enbridge from C$61.00 to C$60.00 and set an “outperform” rating on the stock in a research note on Thursday, November 30th. Canaccord Genuity lowered their target price on Enbridge from C$59.00 to C$54.00 in a report on Thursday, November 30th. Finally, CIBC lowered their target price on Enbridge from C$67.00 to C$63.00 in a report on Friday, December 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$60.16.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, November 29th will be issued a $0.671 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.61. This represents a $2.68 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s payout ratio is presently 119.03%.
In other Enbridge news, insider Bradley Francis Shamla sold 3,019 shares of Enbridge stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of C$50.00, for a total value of C$150,950.00. Also, insider Laszlo Varsanyi sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of C$23.85, for a total value of C$64,395.00. Over the last quarter, insiders sold 16,419 shares of company stock valued at $752,365.
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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.
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