Michele Eva Harradence Acquires 5,857 Shares of Enbridge Inc. (TSE:ENB) Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Senior Officer Michele Eva Harradence acquired 5,857 shares of the stock in a transaction on Wednesday, March 19th. The stock was bought at an average cost of C$62.53 per share, with a total value of C$366,238.21.

Enbridge Stock Down 0.6 %

ENB stock traded down C$0.36 on Friday, hitting C$62.94. 10,651,519 shares of the company’s stock were exchanged, compared to its average volume of 9,513,134. The firm has a 50 day moving average price of C$62.35 and a two-hundred day moving average price of C$59.48. Enbridge Inc. has a 12-month low of C$45.39 and a 12-month high of C$65.62. The stock has a market cap of C$136.40 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were paid a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, February 14th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.99%. Enbridge’s payout ratio is presently 118.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ENB shares. Royal Bank of Canada lifted their price target on shares of Enbridge from C$63.00 to C$67.00 in a research note on Tuesday, February 18th. Barclays lifted their target price on Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Scotiabank increased their price target on Enbridge from C$61.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Finally, CIBC upped their price objective on shares of Enbridge from C$66.00 to C$67.00 in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of C$63.31.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.