Mayank Mulraj Ashar Sells 3,000 Shares of Enbridge (TSE:ENB) Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Mayank Mulraj Ashar sold 3,000 shares of the stock in a transaction 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 transaction, the director owned 42,000 shares in the company, valued at C$3,312,540. This trade represents a 6.67% decrease in their ownership of the stock.

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 stock was 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 firm’s 50-day moving average is C$74.52 and its 200-day moving average is C$69.94. The company has a debt-to-equity ratio of 168.58, a quick ratio of 0.44 and a current ratio of 0.81. Enbridge Inc. has a 1 year low of C$59.68 and a 1 year high of C$80.65. The company 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.

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

Enbridge Announces Dividend

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 dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s payout ratio is 128.73%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ENB. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$71.00 to C$76.00 in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. ATB Cormark Capital Markets lifted their target price on shares of Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Barclays lifted their target price on shares of Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. Finally, National Bank Financial raised their price target on shares of Enbridge from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.