Gregory Lorne Ebel Buys 7,105 Shares of Enbridge (TSE:ENB) Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Gregory Lorne Ebel purchased 7,105 shares of the business’s stock in a transaction on Monday, September 14th. The shares were purchased at an average price of C$66.85 per share, with a total value of C$474,969.25. Following the completion of the purchase, the director owned 589,721 shares in the company, valued at approximately C$39,422,848.85. This trade represents a 1.22% increase in their ownership of the stock.

Enbridge Stock Performance

Shares of TSE:ENB traded up C$0.09 during trading on Friday, hitting C$68.27. The company’s stock had a trading volume of 5,814,339 shares, compared to its average volume of 8,602,745. The company has a 50-day moving average of C$72.79 and a 200-day moving average of C$74.66. Enbridge Inc. has a 12 month low of C$62.42 and a 12 month high of C$80.65. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. The firm has a market cap of C$149.11 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 1.72 and a beta of 0.69.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, July 31st. The company reported C$0.63 earnings per share (EPS) for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The company had revenue of C$29.32 billion during the quarter. On average, sell-side analysts expect that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio is 147.68%.

Analyst Upgrades and Downgrades

ENB has been the topic of several analyst reports. Raymond James Financial lifted their target price on Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a research report on Tuesday. National Bank Financial raised Enbridge from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$81.00 to C$82.00 in a research report on Tuesday. Scotiabank boosted their price objective on Enbridge from C$78.00 to C$84.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 21st. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Finally, TD upgraded shares of Enbridge from a “hold” rating to a “buy” rating and decreased their target price for the stock from C$82.00 to C$81.00 in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$77.62.

About Enbridge

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.