Enbridge Inc (TSE:ENB) (NYSE:ENB) – Research analysts at National Bank Financial reduced their FY2018 earnings estimates for shares of Enbridge in a research note issued to investors on Monday. National Bank Financial analyst P. Kenny now expects that the company will earn $2.16 per share for the year, down from their previous forecast of $2.21. National Bank Financial has a “Outperform” rating and a $60.00 price target on the stock. National Bank Financial also issued estimates for Enbridge’s FY2019 earnings at $2.26 EPS.
Several other equities analysts have also issued reports on the company. Scotiabank decreased their price target on Enbridge from C$60.00 to C$59.00 and set an “outperform” rating on the stock in a research note on Tuesday. TD Securities decreased their price target on Enbridge from C$61.00 to C$57.00 and set a “buy” rating on the stock in a research note on Tuesday. Canaccord Genuity decreased their price target on Enbridge from C$54.00 to C$52.00 in a research note on Wednesday, February 14th. BMO Capital Markets decreased their price target on Enbridge from C$66.00 to C$63.00 in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada decreased their price target on Enbridge from C$63.00 to C$59.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Enbridge presently has an average rating of “Buy” and an average target price of C$59.28.
In other Enbridge news, Director Michael E.J. Phelps sold 900 shares of Enbridge stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total transaction of C$45,054.00. Also, insider Bradley Francis Shamla sold 3,019 shares of Enbridge stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$50.00, for a total value of C$150,950.00. Insiders have sold a total of 13,719 shares of company stock worth $687,970 over the last ninety days.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.671 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a yield of 6.23%. Enbridge’s payout ratio is presently 142.78%.
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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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