Enbridge Inc. (TSE:ENB) Senior Officer Sells C$66,293.64 in Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64.

Enbridge Stock Performance

Shares of TSE:ENB traded down C$0.03 on Tuesday, hitting C$60.04. The company had a trading volume of 437,724 shares, compared to its average volume of 8,445,178. Enbridge Inc. has a 1-year low of C$45.05 and a 1-year high of C$61.99. The stock has a market cap of C$130.89 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 1.72 and a beta of 0.90. The stock has a 50 day moving average price of C$58.89 and a 200 day moving average price of C$54.35. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is presently 140.77%.

Analysts Set New Price Targets

Several analysts have weighed in on ENB shares. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the stock an “equal weight” rating in a report on Friday, October 25th. BMO Capital Markets lifted their price objective on shares of Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Finally, Royal Bank of Canada raised their price target on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of C$60.31.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.