Enbridge Inc. (ENB) Reaches New 12-Month Low at $43.97

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$43.97 and last traded at C$44.54, with a volume of 3195093 shares trading hands. The stock had previously closed at C$46.14.

Several research firms have recently weighed in on ENB. TD Securities increased their price objective on shares of Enbridge from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. CIBC decreased their price objective on shares of Enbridge from C$71.00 to C$69.00 in a research report on Tuesday, October 17th. National Bank Financial decreased their price objective on shares of Enbridge from C$67.00 to C$63.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Scotiabank decreased 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 report on Friday, November 3rd. Finally, Royal Bank Of Canada decreased 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 report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Enbridge currently has a consensus rating of “Buy” and a consensus price target of C$63.66.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Tuesday, November 14th. Enbridge’s dividend payout ratio (DPR) is presently 119.03%.

In related news, Director Albert Monaco bought 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost 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 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. Over the last three months, insiders have sold 103,999 shares of company stock 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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