Enbridge Income Fund (TSE:ENF) had its price target lowered by analysts at Royal Bank of Canada from C$33.00 to C$31.00 in a report issued on Tuesday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 13.55% from the company’s previous close.
Several other equities analysts have also recently commented on ENF. BMO Capital Markets reduced their target price on Enbridge Income Fund from C$35.00 to C$34.00 in a research report on Friday, November 3rd. CIBC boosted their target price on Enbridge Income Fund from C$35.00 to C$36.00 in a research report on Friday, December 8th. Canaccord Genuity reduced their target price on Enbridge Income Fund from C$34.00 to C$30.00 in a research report on Wednesday, February 14th. National Bank Financial reduced their target price on Enbridge Income Fund from C$38.00 to C$35.00 and set a “sector perform” rating for the company in a research report on Friday, November 3rd. Finally, Scotiabank boosted their target price on Enbridge Income Fund from C$37.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday, December 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$33.29.
Enbridge Income Fund (ENF) traded down C$0.52 during trading on Tuesday, reaching C$27.30. The company had a trading volume of 559,873 shares, compared to its average volume of 614,085. Enbridge Income Fund has a twelve month low of C$26.36 and a twelve month high of C$35.00. The stock has a market capitalization of $4,740.00, a PE ratio of 12.88 and a beta of 0.19.
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Enbridge Income Fund Holdings Inc, through its investment in Enbridge Income Fund, holds energy infrastructure assets. The Company’s business is limited to ownership of its interest in Enbridge Income Fund (the Fund). The Fund’s objective is to pay out a high proportion of available cash in the form of dividends to shareholders.
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