Enbridge Income Fund (TSE:ENF) declared a monthly dividend on Monday, April 16th, Zacks reports. Stockholders of record on Monday, April 30th will be paid a dividend of 0.188 per share on Tuesday, May 15th. This represents a $2.26 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date of this dividend is Friday, April 27th.
Shares of TSE ENF traded down C$0.12 during mid-day trading on Friday, reaching C$28.32. 533,600 shares of the company traded hands, compared to its average volume of 559,560. Enbridge Income Fund has a fifty-two week low of C$26.36 and a fifty-two week high of C$34.27.
Enbridge Income Fund (TSE:ENF) last issued its quarterly earnings data on Friday, February 16th. The company reported C$0.55 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.54 by C$0.01. The business had revenue of C$86.00 million for the quarter, compared to analyst estimates of C$93.14 million. Enbridge Income Fund had a return on equity of 7.08% and a net margin of 100.00%.
A number of analysts have issued reports on the company. Canaccord Genuity lowered their target price on Enbridge Income Fund from C$34.00 to C$30.00 in a report on Wednesday, February 14th. Royal Bank of Canada lowered their target price on Enbridge Income Fund from C$33.00 to C$31.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 20th. BMO Capital Markets lowered their target price on Enbridge Income Fund from C$33.00 to C$31.00 in a report on Tuesday, February 6th. Scotiabank lowered their target price on Enbridge Income Fund from C$38.00 to C$36.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Finally, CSFB reaffirmed a “neutral” rating and issued a C$32.00 target price on shares of Enbridge Income Fund in a report on Thursday, March 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of C$33.38.
Enbridge Income Fund Company Profile
Enbridge Income Fund Holdings Inc, through its investment in Enbridge Income Fund, holds energy infrastructure assets in Canada. The company holds interests in the 2,306-kilometre Canadian Mainline, the Regional Oil Sands System, and Southern Lights Pipeline, as well as other crude oil gathering pipelines and storage facilities in Alberta, Saskatchewan, Manitoba, Ontario, and Quebec; and crude oil storage terminals and caverns in Hardisty, Alberta.
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