Enbridge Inc. (TSE:ENB) PT Lowered to C$63.00

Enbridge Inc. (TSE:ENB) (NYSE:ENB) had its target price reduced by equities research analysts at National Bank Financial from C$67.00 to C$63.00 in a research report issued on Friday, November 3rd. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target would indicate a potential upside of 34.01% from the company’s previous close.

A number of other analysts also recently commented on ENB. TD Securities increased their price objective on shares of Enbridge from C$62.00 to C$64.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. CIBC cut their price objective on shares of Enbridge from C$71.00 to C$69.00 in a report on Tuesday, October 17th. Scotiabank cut their price objective on shares of Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Finally, Royal Bank Of Canada cut 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$63.66.

Shares of Enbridge (TSE:ENB) traded down C$0.06 during trading on Friday, reaching C$47.01. 3,051,742 shares of the company were exchanged, compared to its average volume of 2,985,653. Enbridge has a 1 year low of C$43.91 and a 1 year high of C$58.28.

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In other news, Director Albert Monaco purchased 9,356 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was acquired at an average price of C$50.02 per share, for a total transaction of C$467,987.12. Also, Director Wanda Marie Opheim sold 28,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total transaction of C$1,428,000.00. In the last 90 days, insiders have bought 10,156 shares of company stock valued at $499,357 and have sold 103,999 shares valued at $4,958,443.

About Enbridge

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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