Enbridge Inc (ENB) Given Consensus Rating of “Buy” by Brokerages

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Shares of Enbridge Inc (TSE:ENB) (NYSE:ENB) have received an average recommendation of “Buy” from the ten research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$54.90.

A number of analysts have recently weighed in on ENB shares. GMP Securities set a C$56.00 target price on Enbridge in a research note on Friday, May 11th. Royal Bank of Canada lowered their target price on Enbridge from C$59.00 to C$54.00 and set an “outperform” rating for the company in a research note on Friday, May 11th. CIBC lowered their target price on Enbridge from C$60.00 to C$57.00 in a research note on Tuesday, May 22nd. Finally, BMO Capital Markets lowered their target price on Enbridge from C$61.00 to C$59.00 and set an “outperform” rating for the company in a research note on Monday, June 18th.

Shares of TSE:ENB traded down C$0.66 during midday trading on Friday, reaching C$44.99. The company’s stock had a trading volume of 1,989,009 shares, compared to its average volume of 3,354,493. Enbridge has a fifty-two week low of C$37.36 and a fifty-two week high of C$52.59.

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Stockholders of record on Saturday, September 1st were paid a $0.671 dividend. The ex-dividend date was Tuesday, August 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.97%.

In other news, insider Bradley Francis Shamla sold 2,840 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of C$45.90, for a total value of C$130,356.00.

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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Analyst Recommendations for Enbridge (TSE:ENB)

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