Enbridge Inc (TSE:ENB) (NYSE:ENB) has earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$54.30.
ENB has been the topic of a number of analyst reports. BMO Capital Markets cut their target price on Enbridge from C$63.00 to C$61.00 in a research note on Friday, March 16th. Scotiabank cut their target price on Enbridge from C$59.00 to C$57.00 and set an “outperform” rating on the stock in a research note on Friday, March 16th. Royal Bank of Canada cut their target price on Enbridge from C$59.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Friday, May 11th. Mizuho reaffirmed a “neutral” rating and set a C$45.00 target price on shares of Enbridge in a research note on Thursday, March 29th. Finally, CIBC cut their target price on Enbridge from C$63.00 to C$60.00 in a research note on Friday, March 16th.
Enbridge traded down C$0.38, hitting C$41.90, during trading hours on Monday, according to MarketBeat Ratings. 510,901 shares of the company were exchanged, compared to its average volume of 3,482,055. Enbridge has a 52 week low of C$37.36 and a 52 week high of C$53.02.
Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Thursday, May 10th. The company reported C$1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.62 by C$0.42. Enbridge had a return on equity of 6.04% and a net margin of 11.00%. The company had revenue of C$16.09 billion for the quarter, compared to analysts’ expectations of C$13.17 billion.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th were paid a dividend of $0.671 per share. The ex-dividend date was Monday, May 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.41%.
In related news, insider Bradley Francis Shamla sold 1,610 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of C$42.75, for a total value of C$68,827.50.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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