Shares of Enbridge (TSE:ENB) (NYSE:ENB) hit a new 52-week low during trading on Tuesday after Scotiabank lowered their price target on the stock from C$57.00 to C$53.00. Scotiabank currently has an outperform rating on the stock. Enbridge traded as low as C$37.53 and last traded at C$37.68, with a volume of 7183751 shares traded. The stock had previously closed at C$39.82.
Several other analysts have also issued reports on ENB. BMO Capital Markets lowered their price target on shares of Enbridge from C$66.00 to C$63.00 in a research report on Tuesday, February 6th. Canaccord Genuity lowered their price target on shares of Enbridge from C$54.00 to C$52.00 in a research report on Wednesday, February 14th. TD Securities lowered their price target on shares of Enbridge from C$61.00 to C$57.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. CIBC lowered their price target on shares of Enbridge from C$63.00 to C$60.00 in a research report on Friday, March 16th. Finally, Wells Fargo lowered their price target on shares of Enbridge from C$52.00 to C$50.00 in a research report on Thursday, March 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of C$55.83.
In other news, insider Robert Ross Rooney acquired 6,100 shares of Enbridge stock in a transaction that occurred on Thursday, March 15th. The stock was bought at an average price of C$40.80 per share, with a total value of C$248,880.00. Also, insider Bradley Francis Shamla sold 1,009 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of C$40.00, for a total transaction of C$40,360.00. In the last three months, insiders bought 7,100 shares of company stock worth $290,630.
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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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