Enbridge (TSE:ENB) Insider Melissa Marie Laforge Sells 855 Shares

Enbridge Inc. (TSE:ENB) (NYSE:ENB) insider Melissa Marie Laforge sold 855 shares of Enbridge stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the completion of the transaction, the insider directly owned 7,904 shares in the company, valued at approximately C$633,584.64. The trade was a 9.76% decrease in their position.

Enbridge Stock Down 0.6%

Shares of Enbridge stock traded down C$0.46 on Monday, reaching C$79.73. The stock had a trading volume of 1,521,716 shares, compared to its average volume of 8,741,666. The company has a 50 day moving average price of C$74.65 and a 200 day moving average price of C$70.07. 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 1 year low of C$59.68 and a 1 year high of C$80.65. The stock has a market capitalization of C$174.11 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 0.87.

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

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, June 1st will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.9%. Enbridge’s payout ratio is presently 128.73%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. Raymond James Financial boosted their target price on shares of Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Scotiabank boosted their target price on shares of Enbridge from C$77.00 to C$78.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 11th. Barclays boosted their target price on shares of Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$71.00 to C$76.00 in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$74.27.

Enbridge Company Profile

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.