Enbridge (TSE:ENB) Insider Sells C$68,536.80 in Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) insider Melissa Marie Laforge sold 855 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the completion of the sale, the insider owned 7,904 shares of the company’s stock, valued at approximately C$633,584.64. This represents a 9.76% decrease in their position.

Enbridge Trading Down 1.3%

TSE:ENB opened at C$77.74 on Thursday. Enbridge Inc. has a one year low of C$59.68 and a one year high of C$80.65. The company has a debt-to-equity ratio of 168.58, a quick ratio of 0.44 and a current ratio of 0.81. The firm has a market cap of C$169.76 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.72 and a beta of 0.87. The firm has a 50-day simple moving average of C$74.81 and a 200-day simple moving average of C$70.24.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results 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. Equities analysts anticipate that Enbridge Inc. will post 3.511912 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, June 1st will be issued a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 5.0%. Enbridge’s payout ratio is currently 128.73%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ENB shares. TD Securities cut Enbridge from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. Scotiabank upped their price objective on Enbridge from C$77.00 to C$78.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 11th. Raymond James Financial upped their price objective on Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. ATB Cormark Capital Markets upped their price objective on Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, TD upped their price objective on Enbridge from C$73.00 to C$79.00 and gave the stock a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$74.67.

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.