Enbridge (ENB) Price Target Cut to C$60.00
Enbridge (TSE:ENB) (NYSE:ENB) had its price objective dropped by equities researchers at National Bank Financial from C$63.00 to C$60.00 in a research report issued on Thursday. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 23.38% from the company’s current price.
Several other equities analysts have also commented on the company. Canaccord Genuity dropped their target price on Enbridge from C$59.00 to C$54.00 in a research note on Thursday. BMO Capital Markets dropped their target price on Enbridge from C$70.00 to C$66.00 and set an “outperform” rating for the company in a research note on Thursday. TD Securities upped their target price on Enbridge from C$62.00 to C$64.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. CIBC dropped their target price on Enbridge from C$69.00 to C$67.00 in a research note on Friday, November 3rd. Finally, Royal Bank Of Canada dropped their target price 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$61.03.
Enbridge (TSE ENB) opened at C$48.63 on Thursday. Enbridge has a 1-year low of C$43.91 and a 1-year high of C$58.28.
In related news, Director Albert Monaco bought 9,356 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was bought at an average price of C$50.02 per share, with a total value of C$467,987.12. 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. In the last ninety days, insiders bought 10,156 shares of company stock valued at $499,357 and sold 103,999 shares valued at $4,958,443.
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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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