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

Shares of Enbridge Inc (TSE:ENB) (NYSE:ENB) have received an average recommendation of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$54.90.

Several equities analysts recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Enbridge from C$59.00 to C$54.00 and set an “outperform” rating on the stock in a report on Friday, May 11th. Scotiabank cut their price objective on shares of Enbridge from C$57.00 to C$53.00 and set an “outperform” rating on the stock in a report on Tuesday, April 24th. GMP Securities increased their price objective on shares of Enbridge from C$55.00 to C$57.00 in a report on Thursday, July 5th. CIBC cut their price objective on shares of Enbridge from C$60.00 to C$57.00 in a report on Tuesday, May 22nd. Finally, BMO Capital Markets cut their price objective on shares of Enbridge from C$61.00 to C$59.00 and set an “outperform” rating on the stock in a report on Monday, June 18th.

In other Enbridge news, insider Bradley Francis Shamla sold 2,840 shares of the stock in a transaction on Friday, June 29th. The shares were sold at an average price of C$45.90, for a total value of C$130,356.00.

Shares of ENB traded down C$0.21 during mid-day trading on Tuesday, hitting C$47.05. 4,117,700 shares of the company traded hands, compared to its average volume of 3,444,408. Enbridge has a one year low of C$37.36 and a one year high of C$52.59.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Thursday, May 10th. The company reported C$1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.62 by C$0.42. Enbridge had a net margin of 11.00% and a return on equity of 6.04%. The business had revenue of C$16.09 billion for the quarter, compared to analysts’ expectations of C$13.17 billion.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Saturday, September 1st will be issued a $0.671 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $2.68 annualized dividend and a yield of 5.70%.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, 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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Analyst Recommendations for Enbridge (TSE:ENB)

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