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 company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00. Following the completion of the transaction, the director directly owned 42,000 shares in the company, valued at C$3,312,540. This trade represents a 6.67% decrease in their position.

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 value of C$390,400.00.

Enbridge Trading Up 0.7%

Shares of TSE:ENB traded up C$0.52 on Friday, hitting C$80.14. 2,579,296 shares of the company’s stock were exchanged, compared to its average volume of 8,753,206. The stock has a market capitalization of C$175.00 billion, a price-to-earnings ratio of 27.17, 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 debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44. The business’s 50 day simple moving average is C$74.37 and its two-hundred day simple moving average is C$69.86.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.98 EPS for the quarter. The firm 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%. Analysts anticipate that Enbridge Inc. will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, June 1st will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio is currently 128.73%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ENB shares. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the company from C$70.00 to C$72.00 in a report on Tuesday, February 17th. Raymond James Financial raised their price objective on Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Barclays lifted their target price on Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. ATB Cormark Capital Markets increased their price target on Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price 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.