Enbridge (TSE:ENB) Director Mayank Mulraj Ashar Sells 5,000 Shares

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Mayank Mulraj Ashar sold 5,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total transaction of C$390,400.00. Following the completion of the transaction, the director directly owned 45,000 shares in the company, valued at C$3,513,600. The trade was 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 stock was sold at an average price of C$78.87, for a total transaction of C$236,610.00.

Enbridge Price Performance

TSE:ENB traded up C$0.52 during midday trading on Friday, hitting C$80.14. The company had a trading volume of 2,579,296 shares, compared to its average volume of 8,753,206. The company has a market capitalization of C$175.00 billion, a PE ratio of 27.17, a P/E/G ratio of 1.72 and a beta of 0.87. The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58. Enbridge Inc. has a 52-week low of C$59.68 and a 52-week high of C$80.65. The stock’s fifty day moving average price is C$74.37 and its 200-day moving average price is C$69.86.

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

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 128.73%.

Analysts Set New Price Targets

Several brokerages have issued reports on ENB. Royal Bank Of Canada upped their target price on Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from C$74.00 to C$69.00 in a report on Tuesday, January 27th. Raymond James Financial upped their price objective on shares of Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Barclays increased their target price on shares of Enbridge from C$68.00 to C$73.00 in a report on Tuesday, April 7th. Finally, TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.