Enbridge Inc. (ENB) to Issue Quarterly Dividend of $0.61 on December 1st
Enbridge Inc. (TSE:ENB) (NYSE:ENB) announced a quarterly dividend on Wednesday, November 1st, Zacks reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.61 per share on Friday, December 1st. This represents a $2.44 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Tuesday, November 14th.
Enbridge (TSE ENB) traded down C$0.19 during trading on Monday, reaching C$46.29. The company’s stock had a trading volume of 2,357,372 shares, compared to its average volume of 2,972,156. Enbridge has a one year low of C$46.11 and a one year high of C$58.56.
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In related news, Director Wanda Marie Opheim sold 28,000 shares of Enbridge stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total transaction of C$1,428,000.00. Also, insider Vernon Dai-Chung Yu sold 13,179 shares of Enbridge stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of C$52.07, for a total value of C$686,230.53. Over the last ninety days, insiders bought 10,056 shares of company stock valued at $502,753 and sold 101,299 shares valued at $4,894,048.
Several brokerages have issued reports on ENB. TD Securities increased their price target on Enbridge from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. CIBC lowered their price target on Enbridge from C$71.00 to C$69.00 in a report on Tuesday, October 17th. National Bank Financial lowered their price target on Enbridge from C$67.00 to C$63.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Scotiabank lowered their price target on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Finally, Royal Bank Of Canada lowered their price target on Enbridge from C$64.00 to C$63.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of C$63.66.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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