Key Points
- Enbridge insider Michele Eva Harradence purchased 7,105 shares at an average price of C$67.28, investing C$478,024.40 and increasing her direct holdings by 8.84% to 87,467 shares.
- Enbridge shares opened at C$67.69 and were down 0.7%, trading below their 50-day and 200-day moving averages. The company reported quarterly revenue of C$29.32 billion and earnings per share of C$0.63.
- The company pays a quarterly dividend of C$0.97, equivalent to C$3.88 annually and a 5.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of C$77.62.
Enbridge Inc. (TSE:ENB - Get Free Report) (NYSE:ENB) insider Michele Eva Harradence bought 7,105 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were purchased at an average price of C$67.28 per share, with a total value of C$478,024.40. Following the acquisition, the insider directly owned 87,467 shares in the company, valued at approximately C$5,884,779.76. This trade represents a 8.84% increase in their position.
Enbridge Stock Down 0.7%
ENB opened at C$67.69 on Tuesday. The firm has a 50 day moving average price of C$72.40 and a 200 day moving average price of C$74.57. The company has a market cap of C$147.84 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69. Enbridge Inc. has a 1 year low of C$62.42 and a 1 year high of C$80.65. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72.
Enbridge (TSE:ENB - Get Free Report) (NYSE:ENB) last announced its quarterly earnings results on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The firm had revenue of C$29.32 billion for the quarter. Sell-side analysts expect that Enbridge Inc. will post 3.511912 earnings per share for the current year.
Enbridge Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge's dividend payout ratio (DPR) is currently 147.68%.
Analyst Ratings Changes
ENB has been the subject of a number of research reports. Jefferies Financial Group decreased their price target on shares of Enbridge from C$79.00 to C$70.00 in a research report on Tuesday, September 1st. TD upgraded Enbridge from a "hold" rating to a "buy" rating and reduced their price objective for the stock from C$82.00 to C$81.00 in a research note on Tuesday, September 15th. US Capital Advisors raised Enbridge from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 20th. TD Securities raised Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 14th. Finally, National Bank Financial upgraded Enbridge from a "sector perform" rating to an "outperform" rating and increased their target price for the company from C$81.00 to C$82.00 in a research note on Tuesday, September 15th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$77.62.
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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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