Enbridge Inc (ENB) Given Average Recommendation of “Buy” by Brokerages
Enbridge Inc (TSE:ENB) (NYSE:ENB) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$60.16.
Several equities research analysts have commented on the stock. BMO Capital Markets lowered their price target on shares of Enbridge from C$66.00 to C$63.00 in a report on Tuesday, February 6th. National Bank Financial lowered their price target 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, November 30th. Canaccord Genuity lowered their price target on shares of Enbridge from C$59.00 to C$54.00 in a report on Thursday, November 30th. Scotiabank lowered their price target on shares of Enbridge from C$61.00 to C$60.00 and set an “outperform” rating on the stock in a report on Thursday, November 30th. Finally, Royal Bank of Canada lowered their price target on shares of Enbridge from C$63.00 to C$59.00 and set an “outperform” rating on the stock in a report on Wednesday, December 13th.
In other news, insider Bradley Francis Shamla sold 3,019 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$50.00, for a total transaction of C$150,950.00. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of C$50.20, for a total transaction of C$486,940.00. Over the last three months, insiders have sold 16,419 shares of company stock worth $752,365.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.671 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s dividend payout ratio is presently 119.03%.
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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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