Enbridge Inc. (TSE:ENB) to Issue Dividend Increase – $0.94 Per Share

Enbridge Inc. (TSE:ENB) (NYSE:ENB) announced a quarterly dividend on Tuesday, December 3rd,RTT News reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.9425 per share on Saturday, March 1st. This represents a $3.77 dividend on an annualized basis and a dividend yield of 6.14%. This is an increase from Enbridge’s previous quarterly dividend of $0.92.

Enbridge Trading Up 0.7 %

Shares of ENB traded up C$0.44 during mid-day trading on Tuesday, reaching C$61.39. 509,543 shares of the company were exchanged, compared to its average volume of 8,468,565. The business has a 50 day simple moving average of C$57.39 and a two-hundred day simple moving average of C$53.24. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$61.57. The stock has a market capitalization of C$133.83 billion, a PE ratio of 23.44, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ENB shares. BMO Capital Markets boosted their price target on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on Enbridge from C$60.00 to C$66.00 in a research note on Thursday, November 21st. Royal Bank of Canada raised their price objective on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. National Bankshares upped their target price on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$58.31.

Insider Buying and Selling at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Company insiders own 0.10% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.