Insider Buying: Enbridge (TSE:ENB) Insider Acquires C$478,024.40 in Stock
by Sarita Garza · The Markets DailyEnbridge Inc. (TSE:ENB – Get Free Report) (NYSE:ENB) insider Michele Eva Harradence acquired 7,105 shares of the stock in a transaction dated Monday, September 14th. The shares were bought at an average price of C$67.28 per share, with a total value of C$478,024.40. Following the completion of the purchase, the insider directly owned 87,467 shares of the company’s stock, valued at approximately C$5,884,779.76. This trade represents a 8.84% increase in their position.
Enbridge Price Performance
TSE ENB opened at C$67.47 on Thursday. The company has a market cap of C$147.36 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.72 and a beta of 0.69. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. The stock’s fifty day moving average price is C$71.95 and its 200 day moving average price is C$74.48. Enbridge Inc. has a 1 year low of C$62.42 and a 1 year high of C$80.65.
Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last issued its quarterly earnings results on Friday, July 31st. The company reported C$0.63 EPS for the quarter. The company had revenue of C$29.32 billion during the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%. As a group, equities research analysts forecast that Enbridge Inc. will post 3.511912 earnings per share for the current year.
Enbridge Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.8%. Enbridge’s payout ratio is 147.68%.
Wall Street Analyst Weigh In
ENB has been the topic of several research reports. TD upgraded shares of Enbridge from a “hold” rating to a “buy” rating and cut their price target for the stock from C$82.00 to C$81.00 in a report on Tuesday, September 15th. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Scotiabank raised shares of Enbridge to a “strong-buy” rating in a report on Thursday, September 17th. National Bank Financial upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$81.00 to C$82.00 in a research note on Tuesday, September 15th. Finally, Jefferies Financial Group reduced their target price on shares of Enbridge from C$79.00 to C$70.00 in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$77.62.
Read Our Latest Stock Analysis on ENB
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.