Canaccord Genuity Issues a Hold Rating on Enbridge Income Holdings

By Jason Carr

In a new note to investors today, an analyst has provided a rating update for the Utilities sector company, Enbridge Income Holdings (TSX: ENF). The company received a Hold rating from Canaccord Genuity’s analyst David Galison, with a C$34 price target.

According to TipRanks.com, Galison is a 4-star analyst with an average return of 8.6% and a 71.0% success rate. Galison covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Concho Resources, and Pembina Pipeline.

Enbridge Income Holdings has an analyst consensus of Moderate Buy, with a price target consensus of C$34.61.

Enbridge Income Holdings’ market cap is currently C$4.27B and has a P/E ratio of 13.6.

Enbridge Income Fund Holdings, Inc. operates as an open-end investment fund/investment trust. Its business is limited to acquiring, holding, transferring, disposing of, investing in and otherwise dealing in assets, securities, properties or other interests of, or issued by, the Fund and its Associates or Affiliates, or any other business entity in which the Fund has an interest. The company also involves in borrowing funds and incurring indebtedness, guaranteeing debts or liabilities, and issuing, redeeming or repurchasing securities. Enbridge Income Fund Holdings was founded on March 26, 2010 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$29.61.