Enbridge (TSE:ENB) Director Mayank Mulraj Ashar Sells 3,000 Shares

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Mayank Mulraj Ashar sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$78.87, for a total transaction of C$236,610.00. Following the completion of the transaction, the director directly owned 42,000 shares in the company, valued at approximately C$3,312,540. The trade was a 6.67% decrease in their position.

Mayank Mulraj Ashar also recently made the following trade(s):

• On Tuesday, May 19th, Mayank Mulraj Ashar sold 5,000 shares of Enbridge stock. The stock was sold at an average price of C$78.08, for a total transaction of C$390,400.00.

Enbridge Price Performance

TSE ENB opened at C$80.19 on Friday. Enbridge Inc. has a 12 month low of C$59.68 and a 12 month high of C$80.65. The stock has a market cap of C$175.11 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.72 and a beta of 0.87. The company’s 50 day moving average is C$74.52 and its two-hundred day moving average is C$69.94. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58.

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

Enbridge Dividend Announcement

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

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the stock from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the stock from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. ATB Cormark Capital Markets raised their target price on shares of Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, Scotiabank raised 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 note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.