Insider Buying: Enbridge Inc. (TSE:ENB) Senior Officer Purchases 5,857 Shares of Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Senior Officer Michele Eva Harradence bought 5,857 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of C$62.53 per share, for a total transaction of C$366,238.21.

Enbridge Price Performance

ENB traded down C$0.36 during trading hours on Friday, hitting C$62.94. The company’s stock had a trading volume of 10,651,519 shares, compared to its average volume of 9,513,134. The business’s 50-day moving average price is C$62.35 and its 200-day moving average price is C$59.48. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The stock has a market cap of C$136.40 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge Inc. has a 12 month low of C$45.39 and a 12 month high of C$65.62.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.99%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, February 14th. Enbridge’s dividend payout ratio is presently 118.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. Wells Fargo & Company raised their price target on Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. JPMorgan Chase & Co. upped their price objective on Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. TD Securities increased their target price on Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Scotiabank boosted their price target on Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus price target of C$63.31.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.