Scotiabank Cuts Enbridge (ENB) Price Target to C$60.00
Enbridge (TSE:ENB) (NYSE:ENB) had its target price decreased by equities research analysts at Scotiabank from C$61.00 to C$60.00 in a report released on Thursday. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 31.15% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Canaccord Genuity dropped their price objective on shares of Enbridge from C$59.00 to C$54.00 in a report on Thursday. CIBC dropped their price objective on shares of Enbridge from C$71.00 to C$69.00 in a report on Tuesday, October 17th. TD Securities dropped their price objective on shares of Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. National Bank Financial dropped their price objective on shares of Enbridge from C$63.00 to C$60.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, BMO Capital Markets dropped their price objective on shares of Enbridge from C$70.00 to C$66.00 and set an “outperform” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and an average price target of C$61.47.
Enbridge (TSE ENB) traded down C$0.71 during mid-day trading on Thursday, reaching C$45.75. 3,036,025 shares of the company traded hands, compared to its average volume of 2,967,688. Enbridge has a 1-year low of C$43.91 and a 1-year high of C$58.28.
In related news, Director Wanda Marie Opheim sold 28,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of C$51.00, for a total value of C$1,428,000.00. Also, insider Laszlo Varsanyi sold 2,700 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of C$23.85, for a total transaction of C$64,395.00. In the last 90 days, insiders purchased 10,156 shares of company stock worth $499,357 and sold 103,999 shares worth $4,958,443.
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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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