Enbridge Inc (ENB) Given Average Recommendation of “Buy” by Brokerages

Shares of Enbridge Inc (TSE:ENB) (NYSE:ENB) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$63.66.

ENB has been the subject of several analyst reports. CIBC dropped their price target on shares of Enbridge from C$69.00 to C$67.00 in a research note on Friday. TD Securities raised their price target on shares of Enbridge from C$62.00 to C$64.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. National Bank Financial dropped their price target on shares of Enbridge from C$67.00 to C$63.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank Of Canada dropped their price target on shares of Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Scotiabank dropped their price target on shares of Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Friday.

Enbridge (TSE ENB) opened at C$46.85 on Friday. Enbridge has a 52 week low of C$46.61 and a 52 week high of C$58.56.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Tuesday, November 14th.

In other news, Director Michael E.J. Phelps sold 6,300 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of C$41.42, for a total transaction of C$260,946.00. Also, Director Wanda Marie Opheim sold 28,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total transaction of C$1,428,000.00. Over the last quarter, insiders have bought 10,056 shares of company stock valued at $502,753 and have sold 101,299 shares valued at $4,894,048.

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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.

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