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 purchased 5,857 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of C$62.53 per share, with a total value of C$366,238.21.

Enbridge Stock Performance

TSE:ENB opened at C$62.94 on Friday. The stock has a 50-day simple moving average of C$62.35 and a two-hundred day simple moving average of C$59.55. Enbridge Inc. has a 52-week low of C$45.39 and a 52-week high of C$65.62. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The firm has a market capitalization of C$136.40 billion, a PE ratio of 20.46, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders 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%. The ex-dividend date was Friday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s payout ratio is currently 118.98%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ENB shares. BMO Capital Markets boosted their price target on Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. CIBC boosted their price target on Enbridge from C$66.00 to C$67.00 in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. Raymond James lifted their price objective on Enbridge from C$65.00 to C$67.00 in a report on Tuesday, February 18th. Finally, TD Securities lifted their price objective on Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$63.31.

About Enbridge

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.