Enbridge Income Fund’s (ENF) “Neutral” Rating Reaffirmed at CSFB

CSFB reaffirmed their neutral rating on shares of Enbridge Income Fund (TSE:ENF) in a research report sent to investors on Thursday. They currently have a C$32.00 price target on the stock.

ENF has been the topic of several other reports. CIBC boosted their price objective on Enbridge Income Fund from C$36.00 to C$37.00 in a research note on Thursday, January 11th. TD Securities reduced their price objective on Enbridge Income Fund from C$37.00 to C$33.00 and set a buy rating on the stock in a research note on Tuesday, February 20th. Scotiabank boosted their price objective on Enbridge Income Fund from C$37.00 to C$38.00 and gave the stock an outperform rating in a research note on Friday, December 8th. BMO Capital Markets reissued a market perform rating and set a C$33.00 price objective on shares of Enbridge Income Fund in a research note on Friday, December 8th. Finally, Royal Bank of Canada reduced their price objective on Enbridge Income Fund from C$33.00 to C$31.00 and set a sector perform rating on the stock in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of C$33.38.

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TSE:ENF opened at C$27.92 on Thursday. Enbridge Income Fund has a 12 month low of C$26.36 and a 12 month high of C$34.27.

Enbridge Income Fund (TSE:ENF) last posted its earnings results on Friday, February 16th. The company reported C$0.55 EPS for the quarter, topping analysts’ consensus estimates of C$0.54 by C$0.01. The company had revenue of C$86.00 million for the quarter, compared to the consensus estimate of C$93.14 million. Enbridge Income Fund had a return on equity of 7.08% and a net margin of 100.00%.

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 16th will be paid a dividend of $0.1883 per share. The ex-dividend date is Thursday, March 29th. This represents a $2.26 annualized dividend and a yield of 8.09%.

In related news, Director John Richard Bird acquired 4,000 shares of Enbridge Income Fund stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of C$27.99 per share, with a total value of C$111,960.00.

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Enbridge Income Fund Company Profile

Enbridge Income Fund Holdings Inc, through its investment in Enbridge Income Fund, holds energy infrastructure assets in Canada. The company holds interests in the 2,306-kilometre Canadian Mainline, the Regional Oil Sands System, and Southern Lights Pipeline, as well as other crude oil gathering pipelines and storage facilities in Alberta, Saskatchewan, Manitoba, Ontario, and Quebec; and crude oil storage terminals and caverns in Hardisty, Alberta.

Analyst Recommendations for Enbridge Income Fund (TSE:ENF)

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