Enbridge Inc. (TSE:ENB) Price Target Cut to C$63.00

Enbridge Inc. (TSE:ENB) (NYSE:ENB) had its price objective decreased by equities researchers at National Bank Financial from C$67.00 to C$63.00 in a research report issued to clients and investors on Friday, November 3rd. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 42.99% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. CIBC dropped their price target on shares of Enbridge from C$71.00 to C$69.00 in a research report on Tuesday, October 17th. TD Securities dropped their price target on shares of Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Royal Bank Of Canada dropped their price target on shares of Enbridge from C$64.00 to C$63.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Finally, Scotiabank dropped their target price on shares of Enbridge from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$63.66.

Enbridge (ENB) opened at C$44.06 on Friday. Enbridge has a 1 year low of C$43.97 and a 1 year high of C$58.56.

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In other Enbridge news, insider Vernon Dai-Chung Yu sold 13,179 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of C$52.07, for a total value of C$686,230.53. Also, Director Wanda Marie Opheim sold 28,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of C$51.00, for a total transaction of C$1,428,000.00. Over the last quarter, insiders purchased 10,056 shares of company stock valued at $502,753 and sold 101,299 shares valued at $4,894,048.

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.

Analyst Recommendations for Enbridge (TSE:ENB)

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