Enbridge Inc (ENB) PT Raised to C$64.00

Enbridge Inc (TSE:ENB) (NYSE:ENB) had its target price raised by TD Securities from C$62.00 to C$64.00 in a research note released on Tuesday. The brokerage currently has a buy rating on the stock.

ENB has been the topic of several other reports. GMP Securities dropped their price objective on Enbridge from C$64.00 to C$61.25 in a report on Friday, June 16th. Scotiabank restated an outperform rating and set a C$62.00 price objective on shares of Enbridge in a report on Monday, May 1st. Finally, Royal Bank Of Canada dropped their price objective on Enbridge from C$67.00 to C$64.00 and set an outperform rating on the stock in a report on Monday, June 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of C$63.94.

Enbridge (TSE ENB) opened at 50.05 on Tuesday. Enbridge has a one year low of $49.61 and a one year high of $59.19. The company has a 50-day moving average price of $51.79 and a 200-day moving average price of $54.16. The firm has a market capitalization of $82.37 billion and a P/E ratio of 32.31.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a $0.61 dividend. The ex-dividend date is Friday, August 11th. This represents a $2.44 annualized dividend and a dividend yield of 4.88%.

In related news, insider William Turner Yardley sold 4,252 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of C$39.81, for a total transaction of C$169,272.12. Also, insider Laszlo Varsanyi acquired 1,000 shares of Enbridge stock in a transaction that occurred 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. In the last quarter, insiders sold 28,887 shares of company stock valued at $1,227,482.

About Enbridge

Enbridge Inc engages in energy transportation activities in the United States and Canada. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, 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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