Enbridge Inc (ENB) Receives Average Recommendation of “Buy” from Analysts

Enbridge Inc (TSE:ENB) (NYSE:ENB) has been assigned a consensus recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$60.16.

ENB has been the subject of a number of recent research reports. CIBC reduced their price objective on shares of Enbridge from C$71.00 to C$69.00 in a research note on Tuesday, October 17th. Royal Bank of Canada reduced their price objective on shares of 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. BMO Capital Markets reduced their price objective on shares of Enbridge from C$66.00 to C$63.00 in a research note on Tuesday, February 6th. Scotiabank reduced their price objective on shares of 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. Finally, TD Securities reduced their price objective on shares of 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.

Enbridge (TSE:ENB) opened at C$43.76 on Tuesday. The company has a market cap of $74,170.00, a P/E ratio of 22.33 and a beta of 0.18. Enbridge has a 12 month low of C$42.00 and a 12 month high of C$57.75.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.671 per share. The ex-dividend date is Wednesday, February 14th. 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 dividend yield of 6.13%. Enbridge’s dividend payout ratio is presently 119.03%.

In other news, insider Laszlo Varsanyi sold 2,700 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was 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 company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of C$50.20, for a total value of C$486,940.00. Over the last ninety days, insiders have sold 16,419 shares of company stock worth $752,365.

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About Enbridge

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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