Enbridge (ENB) PT Lowered to C$59.00 at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its target price cut by Scotiabank from C$60.00 to C$59.00 in a research note issued to investors on Tuesday. They currently have an outperform rating on the stock.

Several other brokerages also recently weighed in on ENB. Canaccord Genuity cut their target price on shares of Enbridge from C$54.00 to C$52.00 in a research note on Wednesday, February 14th. Royal Bank of Canada cut their target price on shares of Enbridge from C$63.00 to C$59.00 and set an outperform rating for the company in a research note on Wednesday, December 13th. BMO Capital Markets cut their target price on shares of Enbridge from C$66.00 to C$63.00 in a research note on Tuesday, February 6th. TD Securities cut their target price on shares of Enbridge from C$61.00 to C$57.00 and set a buy rating for the company in a research note on Tuesday. Finally, CIBC cut their target price on shares of Enbridge from C$67.00 to C$63.00 in a research note on Friday, December 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Enbridge currently has an average rating of Buy and an average target price of C$59.28.

Enbridge (TSE:ENB) opened at C$43.06 on Tuesday. Enbridge has a one year low of C$42.00 and a one year high of C$57.75. The firm has a market cap of $72,990.00, a PE ratio of 25.48 and a beta of 0.18.

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.23%. This is an increase from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s dividend payout ratio is currently 142.78%.

In other news, insider Vernon Dai-Chung Yu sold 9,700 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of C$50.20, for a total transaction of C$486,940.00. Also, insider Bradley Francis Shamla sold 3,019 shares of the company’s 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. In the last ninety days, insiders have sold 13,719 shares of company stock valued at $687,970.

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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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