Enbridge Inc (TSE:ENB) (NYSE:ENB) – National Bank Financial lowered their FY2017 EPS estimates for shares of Enbridge in a note issued to investors on Tuesday. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $1.77 for the year, down from their previous forecast of $1.99. 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 FY2018 earnings at $2.21 EPS.
A number of other analysts have also weighed in on the company. CIBC dropped their price objective on Enbridge from C$71.00 to C$69.00 in a research note on Tuesday, October 17th. TD Securities dropped their price objective on Enbridge from C$64.00 to C$62.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Scotiabank dropped their price objective on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Royal Bank of Canada dropped their price objective on Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a C$66.00 price objective on shares of Enbridge in a research note on Wednesday, December 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Enbridge has an average rating of “Buy” and a consensus target price of C$60.16.
In related news, insider Vernon Dai-Chung Yu sold 9,700 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of C$50.20, for a total value of C$486,940.00. Also, insider Bradley Francis Shamla sold 3,019 shares of the firm’s stock in a transaction on 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 sold 16,419 shares of company stock valued at $752,365 in the last ninety days.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be paid a $0.671 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.27%. Enbridge’s dividend payout ratio (DPR) is presently 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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