Enbridge (TSE:ENB) Director Mayank Mulraj Ashar Sells 5,000 Shares

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Mayank Mulraj Ashar sold 5,000 shares of Enbridge stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total value of C$390,400.00. Following the completion of the sale, the director directly owned 45,000 shares of the company’s stock, valued at approximately C$3,513,600. This trade represents a 10.00% decrease in their position.

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

• On Wednesday, May 20th, Mayank Mulraj Ashar sold 3,000 shares of Enbridge stock. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00.

Enbridge Stock Performance

TSE ENB traded up C$0.52 during trading on Friday, hitting C$80.14. 2,579,296 shares of the company’s stock traded hands, compared to its average volume of 8,753,206. 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 stock has a market capitalization of C$175.00 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.72 and a beta of 0.87. Enbridge Inc. has a 12-month low of C$59.68 and a 12-month high of C$80.65. The business has a 50 day moving average of C$74.37 and a 200-day moving average of C$69.86.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. The firm had revenue of C$22.36 billion during the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. As a group, equities research analysts anticipate that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ENB shares. Scotiabank lifted their price target on Enbridge from C$77.00 to C$78.00 and gave the company a “sector outperform” rating in a research report on Monday, May 11th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the company from C$71.00 to C$76.00 in a report on Tuesday, February 17th. Royal Bank Of Canada upped their price target on Enbridge from C$76.00 to C$79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial increased their price target on shares of Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. 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 note on Tuesday, February 17th. One equities research 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. According to data from MarketBeat.com, the stock has a consensus 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.