Enbridge Inc. Announces Quarterly Dividend of $0.94 (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) declared a quarterly dividend on Thursday, May 15th, RTT News reports. Investors of record on Sunday, June 1st will be given a dividend of 0.9425 per share on Sunday, June 1st. This represents a $3.77 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Thursday, May 15th.

Enbridge Stock Performance

Shares of ENB opened at C$62.29 on Tuesday. Enbridge has a 1 year low of C$47.41 and a 1 year high of C$65.62. The stock has a market capitalization of C$135.00 billion, a PE ratio of 20.25, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The stock has a 50-day simple moving average of C$62.43 and a 200-day simple moving average of C$61.40.

Insider Buying and Selling

In related news, Senior Officer Matthew Allan Akman bought 1,000 shares of the stock in a transaction on Friday, March 14th. The shares were bought at an average cost of C$61.24 per share, for a total transaction of C$61,240.00. Also, Senior Officer Michele Eva Harradence bought 5,857 shares of the stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of C$62.53 per share, for a total transaction of C$366,238.21. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ENB shares. Echelon Wealth Partners raised their price target on Enbridge from C$67.00 to C$74.00 in a research note on Wednesday, April 23rd. TD Securities increased their price objective on Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Citigroup set a C$75.00 price target on Enbridge and gave the company a “buy” rating in a report on Friday, April 4th. Jefferies Financial Group upped their target price on shares of Enbridge from C$59.00 to C$65.00 in a report on Thursday, January 30th. Finally, CIBC lifted their price target on shares of Enbridge from C$66.00 to C$67.00 in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$66.00.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.