Enbridge (TSE:ENB) Director Sells C$236,610.00 in Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Mayank Mulraj Ashar sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$78.87, for a total value of C$236,610.00. Following the sale, the director directly owned 42,000 shares in the company, valued at C$3,312,540. This trade represents a 6.67% decrease in their ownership of the stock.

Mayank Mulraj Ashar also recently made the following trade(s):

• On Tuesday, May 19th, Mayank Mulraj Ashar sold 5,000 shares of Enbridge stock. The shares were sold at an average price of C$78.08, for a total transaction of C$390,400.00.

Enbridge Price Performance

ENB traded up C$0.52 during trading hours on Friday, hitting C$80.14. The company’s stock had a trading volume of 2,579,296 shares, compared to its average volume of 8,753,206. The stock has a market cap of C$175.00 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 1.72 and a beta of 0.87. The business’s 50-day moving average price is C$74.37 and its 200-day moving average price is C$69.86. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. Enbridge Inc. has a 12 month low of C$59.68 and a 12 month high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The company reported C$0.98 EPS for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. The business had revenue of C$22.36 billion during the quarter. Sell-side analysts expect that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, June 1st will be given a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 4.8%. Enbridge’s dividend payout ratio (DPR) is currently 128.73%.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and raised their price objective for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. Scotiabank increased their price target on Enbridge from C$77.00 to C$78.00 and gave the company a “sector outperform” rating in a report on Monday, May 11th. National Bank Financial raised their price target on Enbridge from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Monday, May 11th. Barclays lifted their price objective on shares of Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. Finally, ATB Cormark Capital Markets boosted their price objective on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$74.27.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.