Enbridge Inc (TSE:ENB) (NYSE:ENB) – Research analysts at National Bank Financial decreased their FY2018 EPS estimates for shares of Enbridge in a research note issued on Thursday, Zacks Investment Research reports. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $2.66 per share for the year, down from their prior estimate of $2.70. National Bank Financial currently has a “Outperform” rating and a $60.00 price target on the stock.
A number of other research analysts have also recently issued reports on the company. Canaccord Genuity reduced their price objective on Enbridge from C$59.00 to C$54.00 in a research note on Thursday, November 30th. BMO Capital Markets reduced their price objective on Enbridge from C$70.00 to C$66.00 and set an “outperform” rating on the stock in a research note on Thursday, November 30th. Scotiabank reduced their price objective on Enbridge from C$61.00 to C$60.00 and set an “outperform” rating on the stock in a research note on Thursday, November 30th. CIBC dropped their target price on shares of Enbridge from C$67.00 to C$63.00 in a report on Friday, December 1st. Finally, Royal Bank of Canada lowered their price objective on shares of Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$61.03.
In other news, insider Laszlo Varsanyi sold 2,700 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of C$23.85, for a total transaction of C$64,395.00. Also, Director Albert Monaco acquired 9,356 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of C$50.02 per share, with a total value of C$467,987.12. In the last three months, insiders have purchased 10,156 shares of company stock valued at $499,357 and have sold 103,999 shares valued at $4,958,443.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be given a dividend of $0.671 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.44%. This is an increase from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s dividend payout ratio (DPR) is 119.03%.
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Enbridge Company Profile
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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