Insider Buying: Enbridge Inc. (TSE:ENB) Senior Officer Acquires 1,000 Shares of Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Senior Officer Matthew Allan Akman acquired 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of C$61.24 per share, for a total transaction of C$61,240.00.

Enbridge Stock Performance

Enbridge stock opened at C$62.67 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The stock has a market cap of C$135.82 billion, a PE ratio of 20.37, 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. The business’s 50-day moving average price is C$62.34 and its two-hundred day moving average price is C$59.41.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 6.02%. This is a boost 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 currently 118.98%.

Analyst Ratings Changes

Several research firms recently commented on ENB. BMO Capital Markets upped their price target on shares of Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. TD Securities raised their target price on shares of Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their price target on shares of Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. Jefferies Financial Group increased their price target on Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. Finally, CIBC lifted their price objective on Enbridge from C$66.00 to C$67.00 in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently 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.