CIBC Trims Enbridge Inc (ENB) Target Price to C$67.00

Enbridge Inc (TSE:ENB) (NYSE:ENB) had its price objective reduced by CIBC from C$69.00 to C$67.00 in a research note released on Friday morning.

A number of other research analysts also recently issued reports on the company. TD Securities lifted their price target on Enbridge from C$62.00 to C$64.00 and gave the company a buy rating in a report on Tuesday, August 8th. Scotiabank dropped their target price on Enbridge from C$62.00 to C$61.00 and set an outperform rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of C$63.66.

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

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

In other Enbridge news, Director Wanda Marie Opheim sold 28,000 shares of the business’s stock in a transaction dated 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. Also, Director Michael E.J. Phelps sold 6,300 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of C$41.42, for a total value of C$260,946.00. In the last quarter, insiders have acquired 10,056 shares of company stock worth $502,753 and have sold 101,299 shares worth $4,894,048.

About Enbridge

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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