Enbridge Income Fund Holdings Inc (ENF) Given Average Recommendation of “Hold” by Analysts

Enbridge Income Fund Holdings Inc (TSE:ENF) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$32.94.

A number of equities analysts recently issued reports on ENF shares. BMO Capital Markets raised their price target on Enbridge Income Fund from C$33.00 to C$34.00 in a report on Tuesday, September 11th. CIBC restated a “neutral” rating and issued a C$33.00 price objective on shares of Enbridge Income Fund in a research report on Wednesday, August 8th. Royal Bank of Canada raised their price objective on shares of Enbridge Income Fund from C$31.00 to C$34.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 7th. Finally, National Bank Financial raised their price objective on shares of Enbridge Income Fund from C$29.00 to C$32.50 and gave the company a “tender” rating in a research report on Tuesday, August 7th.

Shares of TSE ENF traded down C$0.80 during midday trading on Thursday, reaching C$32.15. 541,806 shares of the company were exchanged, compared to its average volume of 551,344. Enbridge Income Fund has a 1 year low of C$26.36 and a 1 year high of C$34.29.

Enbridge Income Fund (TSE:ENF) last released its quarterly earnings results on Friday, August 3rd. The company reported C$0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.65 by C($0.02). Enbridge Income Fund had a return on equity of 7.08% and a net margin of 100.00%. The company had revenue of C$114.00 million for the quarter, compared to analysts’ expectations of C$112.88 million.

The business also recently disclosed a monthly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be given a dividend of $0.188 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $2.26 annualized dividend and a dividend yield of 7.02%.

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.

Further Reading: Average Daily Trade Volume – ADTV

Analyst Recommendations for Enbridge Income Fund (TSE:ENF)

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