Insider Selling: Enbridge (TSE:ENB) Director Sells C$390,400.00 in Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Mayank Mulraj Ashar sold 5,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 45,000 shares in the company, valued at C$3,513,600. This 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 transaction of C$236,610.00.

Enbridge Price Performance

TSE ENB opened at C$80.19 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58. The stock has a market capitalization of C$175.11 billion, a PE ratio of 27.18, a price-to-earnings-growth 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 company has a 50 day moving average price of C$74.52 and a two-hundred day moving average price of C$69.97.

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

Enbridge Announces Dividend

The firm 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. This represents a $3.88 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio is presently 128.73%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. National Bank Financial raised their price objective on Enbridge from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$71.00 to C$76.00 in a report on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. Finally, ATB Cormark Capital Markets increased their price target on Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus price target of C$74.27.

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.