Separately, CIBC cut their price objective on Enbridge from C$71.00 to C$69.00 in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of C$63.66.
Shares of Enbridge (TSE:ENB) opened at C$46.80 on Friday. Enbridge has a 1-year low of C$46.61 and a 1-year high of C$58.56.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors 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 related news, insider Vernon Dai-Chung Yu sold 13,179 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of C$52.07, for a total transaction of C$686,230.53. Also, Director Michael E.J. Phelps sold 6,300 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of C$41.42, for a total value of C$260,946.00. Over the last three months, insiders have purchased 10,056 shares of company stock valued at $502,753 and have sold 101,299 shares valued at $4,894,048.
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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