Is Enbridge Income Fund (TSE:ENF) Finally Worth Your Time? What Does JP Morgan Think?

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Why Has JP Morgan Given Enbridge Income Fund (TSE:ENF) a $35.00 Price Target

In a very recent research note shared with investors today, JP Morgan analysts launched Enbridge Income Fund (TSE:ENF) coverage with Neutral rating, and a $35.00 price target.

From a total of 12 analysts covering Enbridge Income Fund (TSE:ENF) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is $32.01 while the lowest target price is $23.28. The mean of all analyst targets is $28.04 with a 36.66% above today’s ($27.44) stock price. Enbridge Income Fund was the topic of 8 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. BMO Capital Markets initiated shares on December 3 with “Outperform” rating.

Approximately 201,955 shares of stock traded hands. Enbridge Income Fund Holdings Inc (TSE:ENF) has declined 27.99% since May 12, 2015 and is downtrending. It has underperformed by 24.31% the S&P500.

Is Enbridge Income Fund (TSE:ENF) Finally Worth Your Time? What Does JP Morgan Think?

Enbridge Income Fund Holdings Inc., through its investment in Enbridge Income Fund, holds energy infrastructure assets. The company has a market cap of $2.67 billion. The Company’s business is limited to ownership of its interest in Enbridge Income Fund . It has 15.1 P/E ratio. 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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