The Globe and Mail reports in its Friday edition that BMO analyst Ben Pham sees Enbridge's ($48.65) new strategic plan as a positive. The Globe's David Leeder writes in the Eye On Equities column that Mr. Pham, however, feels investor confidence could take a few quarters to materialize and drive valuation expansion. He continues to rate Enbridge "outperform." Mr. Pham, however, trimmed his share target to $66 from $70. Analysts on average target the shares at $57.94. Mr. Bottomley says in a note: "Good news in that ENB raised its quarterly dividend by 10 per cent to $0.671, consistent with our outlook and equating to a 5.9-per-cent yield (vs. our coverage at 4.9 per cent). More important, the company expects similar 10-per-cent growth through 2020, underpinned by a $22-billion capital program. That compares to previous guidance of 10-12 per cent through 2024 which was predicated on securing additional growth projects of $5-6-billion per annum beyond 2020. In that sense, the new guidance is a 'reset,' but more realistic and achievable and based solely on secured projects. The payout is expected to be below 65 per cent through 2020, still conservative relative to peers, but above 50-60-per-cent long-term target."