Enbridge (ENB) Price Target Cut to C$52.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target reduced by Canaccord Genuity from C$54.00 to C$52.00 in a note issued to investors on Wednesday. Canaccord Genuity’s price target would indicate a potential upside of 20.29% from the company’s previous close.

ENB has been the subject of several other reports. 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. Royal Bank of Canada reduced their price target 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. BMO Capital Markets reduced their price target on shares of Enbridge from C$66.00 to C$63.00 in a research report on Tuesday, February 6th. Scotiabank reduced their price target 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, TD Securities reduced their price target on shares of Enbridge from C$64.00 to C$62.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Enbridge has an average rating of “Buy” and an average price target of C$59.91.

Enbridge (ENB) opened at C$43.23 on Wednesday. The company has a market cap of $73,270.00, a P/E ratio of 22.06 and a beta of 0.18. Enbridge has a 1 year low of C$42.00 and a 1 year high of C$57.75.

In other news, Director Michael E.J. Phelps sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of C$50.06, for a total transaction of C$45,054.00. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of C$50.20, for a total transaction of C$486,940.00. Insiders have sold a total of 13,719 shares of company stock valued at $687,970 over the last three months.

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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.

Analyst Recommendations for Enbridge (TSE:ENB)

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