Enbridge (TSE:ENB) Director Mayank Mulraj Ashar Sells 5,000 Shares

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Director Mayank Mulraj Ashar sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$78.08, for a total value of C$390,400.00. Following the completion of the sale, the director owned 45,000 shares of the company’s stock, valued at approximately C$3,513,600. This trade represents a 10.00% decrease in their position.

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

• On Wednesday, May 20th, Mayank Mulraj Ashar sold 3,000 shares of Enbridge stock. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00.

Enbridge Trading Up 0.7%

Shares of Enbridge stock opened at C$80.19 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58. The firm has a market cap of C$175.11 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. The business has a fifty day simple moving average of C$74.52 and a 200-day simple moving average of C$69.94. Enbridge Inc. has a fifty-two week low of C$59.68 and a fifty-two week high of C$80.65.

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

Enbridge Dividend Announcement

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 issued a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 4.8%. Enbridge’s dividend payout ratio is 128.73%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ENB shares. National Bank Financial upped their target price on Enbridge from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. ATB Cormark Capital Markets upped their target price on Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and upped their target price for the company from C$71.00 to C$76.00 in a report on Tuesday, February 17th. Barclays upped their target price on Enbridge from C$68.00 to C$73.00 in a report on Tuesday, April 7th. Finally, TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating and upped their target price for the company from C$70.00 to C$72.00 in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of C$74.27.

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.