TD Securities Trims Enbridge Inc (ENB) Target Price to C$62.00

Enbridge Inc (TSE:ENB) (NYSE:ENB) had its target price cut by TD Securities from C$64.00 to C$62.00 in a research report report published on Friday, May 12th. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on ENB. Citigroup Inc. reissued a neutral rating and issued a C$60.00 target price on shares of Enbridge in a research note on Wednesday, January 18th. Scotiabank reiterated an outperform rating and set a C$62.00 target price on shares of Enbridge in a report on Monday, May 1st. National Bank Financial raised their price objective on shares of Enbridge from C$63.00 to C$66.00 in a report on Wednesday, January 25th. BMO Capital Markets reaffirmed an outperform rating and set a C$72.00 target price on shares of Enbridge in a research note on Monday, March 6th. Finally, GMP Securities raised their target price on shares of Enbridge from C$64.00 to C$66.00 in a research note on Tuesday, February 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of C$63.33.

Enbridge (TSE ENB) traded up 2.25% during midday trading on Friday, reaching $51.44. The company had a trading volume of 9,891,878 shares. The company’s 50-day moving average is $53.62 and its 200 day moving average is $55.50. Enbridge has a 52-week low of $49.61 and a 52-week high of $59.19. The company has a market cap of $84.30 billion and a PE ratio of 42.80.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were paid a $0.61 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Thursday, May 11th.

In other Enbridge news, insider Bradley Francis Shamla sold 5,135 shares of Enbridge stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of C$56.00, for a total transaction of C$287,560.00. Also, insider Laszlo Varsanyi purchased 1,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were bought at an average price of C$51.75 per share, with a total value of C$51,750.00.

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.

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