Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Investment analysts at National Bank Financial reduced their FY2018 earnings per share estimates for shares of Enbridge in a note issued to investors on Thursday. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings of $2.66 per share for the year, down from their prior estimate of $2.70. National Bank Financial has a “Outperform” rating and a $60.00 price objective on the stock.
A number of other research analysts have also recently commented on the company. Canaccord Genuity decreased their price target on Enbridge from C$59.00 to C$54.00 in a research note on Thursday, November 30th. CIBC cut their price objective on Enbridge from C$69.00 to C$67.00 in a research report on Friday, November 3rd. TD Securities lifted their price objective on Enbridge from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Scotiabank decreased their price target on shares of Enbridge from C$61.00 to C$60.00 and set an “outperform” rating for the company in a research report on Thursday, November 30th. Finally, Royal Bank Of Canada cut their price objective on shares of Enbridge from C$64.00 to C$63.00 and set an “outperform” rating on the stock in a report 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 an average target price of C$61.03.
Enbridge (TSE ENB) traded up C$0.09 during midday trading on Monday, reaching C$48.77. The company had a trading volume of 2,877,141 shares, compared to its average volume of 3,002,046. Enbridge has a 12 month low of C$43.91 and a 12 month high of C$58.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, November 29th will be given a $0.671 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s payout ratio is currently 119.03%.
In other Enbridge news, Director Albert Monaco acquired 9,356 shares of the business’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, Director Wanda Marie Opheim sold 28,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total value of C$1,428,000.00. Over the last ninety days, insiders have acquired 10,156 shares of company stock worth $499,357 and have sold 103,999 shares worth $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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