Enbridge (ENB) Price Target Cut to C$52.00 by Analysts at Canaccord Genuity

Enbridge (TSE:ENB) (NYSE:ENB) had its target price decreased by stock analysts at Canaccord Genuity from C$54.00 to C$52.00 in a research report issued on Wednesday. Canaccord Genuity’s target price indicates a potential upside of 21.30% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. CIBC dropped their target price on Enbridge from C$67.00 to C$63.00 in a report on Friday, December 1st. BMO Capital Markets lowered their price target on Enbridge from C$66.00 to C$63.00 in a report on Tuesday, February 6th. TD Securities lowered their price target on Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Royal Bank of Canada lowered their price target on Enbridge from C$63.00 to C$59.00 and set an “outperform” rating on the stock in a report on Wednesday, December 13th. Finally, Scotiabank lowered their price target on Enbridge from C$61.00 to C$60.00 and set an “outperform” rating on the stock in a report on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of C$59.91.

Enbridge (TSE ENB) traded down C$1.26 during trading on Wednesday, reaching C$42.87. The company’s stock had a trading volume of 2,857,055 shares, compared to its average volume of 3,127,894. Enbridge has a twelve month low of C$42.00 and a twelve month high of C$57.75. The company has a market capitalization of $72,880.00, a P/E ratio of 21.91 and a beta of 0.18.

In related news, Director Michael E.J. Phelps sold 900 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total transaction of C$45,054.00. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of the company’s stock in a transaction on Monday, December 18th. The shares were 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 13,719 shares of company stock worth $687,970.

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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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