Desjardins Sticks to Its Hold Rating for Enbridge Income Holdings

By Austin Angelo

Wall Street analyst has provided a rating update for the Utilities sector company today, while remaining neutral on the stock. Enbridge Income Holdings (TSX: ENF) received a Hold rating from Desjardins’ analyst Justin Bouchard, with a C$33 price target.

Bouchard has an average return of 7.5% when recommending Enbridge Income Holdings.

According to TipRanks.com, Bouchard is ranked #4246 out of 4743 analysts.

Enbridge Income Holdings has an analyst consensus of Moderate Buy, with a price target consensus of C$34.39.

Based on Enbridge Income Holdings’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$79 million and quarterly net profit of C$77 million. In comparison, last year the company earned revenue of C$67 million and had a net profit of C$67 million.

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 Friday at C$29.21, close to its 52-week low of C$27.93.