Insider Buying: Enbridge Income Fund Holdings Inc (ENF) Director Buys 860 Shares of Stock

Enbridge Income Fund Holdings Inc (TSE:ENF) Director Cynthia Lynn Hansen acquired 860 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was bought at an average cost of C$27.80 per share, for a total transaction of C$23,908.00.

Shares of Enbridge Income Fund Holdings Inc (TSE:ENF) traded up C$0.56 during trading hours on Thursday, hitting C$29.56. The stock had a trading volume of 1,295,375 shares, compared to its average volume of 378,333. Enbridge Income Fund Holdings Inc has a one year low of C$27.93 and a one year high of C$36.31.

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.171 per share. This represents a $2.05 annualized dividend and a dividend yield of 6.94%. The ex-dividend date is Thursday, December 28th. Enbridge Income Fund’s payout ratio is presently 95.09%.

Several brokerages have commented on ENF. Royal Bank Of Canada dropped their price target on Enbridge Income Fund from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research report on Friday, November 3rd. BMO Capital Markets dropped their price target on Enbridge Income Fund from C$35.00 to C$34.00 in a research report on Friday, November 3rd. National Bank Financial dropped their price target on Enbridge Income Fund from C$38.00 to C$35.00 and set a “sector perform” rating on the stock in a research report on Friday, November 3rd. CIBC dropped their price target on Enbridge Income Fund from C$38.00 to C$35.00 in a research report on Tuesday, October 17th. Finally, Scotiabank decreased their price objective on Enbridge Income Fund from C$38.00 to C$37.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Enbridge Income Fund presently has an average rating of “Hold” and an average price target of C$35.00.

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About Enbridge Income Fund

Enbridge Income Fund Holdings Inc, through its investment in Enbridge Income Fund, holds energy infrastructure assets. The Company’s business is limited to ownership of its interest in Enbridge Income Fund (the Fund). The Fund’s objective is to pay out a high proportion of available cash in the form of dividends to shareholders.

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