CIBC Remains a Hold on Enbridge Income Holdings (ENF)


Wall Street analyst has provided a review for the Utilities company yesterday, but retained the same rating on the stock. Analyst Robert Catellier from CIBC rated Enbridge Income Holdings (TSX: ENF) a Hold, setting a C$33 price target.

Catellier has an average return of 6.7% when recommending Enbridge Income Holdings.

According to TipRanks.com, Catellier is ranked #1758 out of 4850 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Enbridge Income Holdings with a C$34 average price target, which is a 3.7% upside from current levels. In a report issued on August 5, BMO Capital also reiterated a Hold rating on the stock with a C$33 price target.

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Based on Enbridge Income Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$114 million and net profit of C$758 million. In comparison, last year the company earned revenue of C$80 million and had a net profit of C$77 million.

Enbridge Income Fund Holdings, Inc. operates as an close-ended investment fund, which engages in the investment in its fund. The fund’s business comprises of the transportation, storage, and generation of energy. It operates through the following business segments: Liquid Pipelines, Gas Pipelines, and Green Power.

The company’s shares closed on Wednesday at C$32.78, close to its 52-week high of C$33.28.

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