Key Points
- Enbridge director Mayank Mulraj Ashar sold shares twice in two days, including 5,000 shares for C$390,400 and 3,000 more shares the next day for C$236,610. After the first sale, he still held 45,000 shares, a 10% reduction in his ownership.
- Enbridge’s stock was trading near its 52-week high, opening at C$80.19 and sitting just below its 1-year high of C$80.65. The company also has a market cap of C$175.11 billion and a dividend yield of 4.8%.
- Analysts remain mixed but generally constructive on Enbridge, with an average rating of “Moderate Buy” and a consensus target price of C$74.27. Recent updates included higher price targets from Scotiabank and Raymond James, though some firms maintained hold ratings.
Enbridge Inc. (TSE:ENB - Get Free Report) (NYSE:ENB) Director Mayank Mulraj Ashar sold 3,000 shares of Enbridge stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total transaction of C$236,610.00. Following the sale, the director owned 42,000 shares in the company, valued at approximately C$3,312,540. The trade was a 6.67% decrease in their position.
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 Trading Up 0.7%
Enbridge stock opened at C$80.19 on Friday. The stock has a market cap of C$175.11 billion, a P/E ratio of 27.18, a PEG ratio of 1.72 and a beta of 0.87. The company has a debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44. Enbridge Inc. has a 1 year low of C$59.68 and a 1 year high of C$80.65. The firm's 50 day moving average price is C$74.52 and its 200-day moving average price is C$69.94.
Enbridge (TSE:ENB - Get Free Report) (NYSE:ENB) last released its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. The firm had revenue of C$22.36 billion for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. On average, equities analysts predict that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, June 1st will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. Enbridge's dividend payout ratio (DPR) is 128.73%.
Analysts Set New Price Targets
ENB has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on shares of Enbridge from C$76.00 to C$79.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Raymond James Financial raised their target price on shares of Enbridge from C$78.00 to C$80.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Scotiabank raised their target price on shares of Enbridge from C$77.00 to C$78.00 and gave the company a "sector outperform" rating in a report on Monday, May 11th. ATB Cormark Capital Markets raised their target price on shares of Enbridge from C$72.00 to C$78.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Finally, Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating and raised their target price for the company from C$71.00 to C$76.00 in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of "Moderate Buy" and an average target price of C$74.27.
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About Enbridge
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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.
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