Enbridge (TSE:ENB) Insider Michele Eva Harradence Acquires 7,105 Shares of Stock

Key Points

• Insider purchase: Michele Eva Harradence bought 7,105 Enbridge shares at C$67.28 each, investing approximately C$478,024 and increasing her holdings by 8.84% to 87,467 shares.
• Stock and dividend profile: Enbridge recently traded at C$68.20, below its 50-day and 200-day moving averages. The company pays a quarterly dividend of C$0.97 per share, equivalent to a 5.7% annualized yield.
• Analyst sentiment improved: Several research firms recently upgraded Enbridge, contributing to a consensus “Moderate Buy” rating and an average price target of C$77.62.

Enbridge 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 stock was bought at an average price of C$67.28 per share, for a total transaction of C$478,024.40. Following the purchase, the insider owned 87,467 shares of the company's stock, valued at C$5,884,779.76. The trade was a 8.84% increase in their position.

Enbridge Stock Performance

TSE:ENB traded up C$0.06 during trading hours on Monday, hitting C$68.20. 1,615,673 shares of the company traded hands, compared to its average volume of 8,614,521. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. Enbridge Inc. has a twelve month low of C$62.42 and a twelve month high of C$80.65. The firm has a 50-day moving average of C$72.61 and a 200 day moving average of C$74.62. The stock has a market capitalization of C$148.96 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 1.72 and a beta of 0.69.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last posted its quarterly earnings results on Friday, July 31st. The company reported C$0.63 earnings per share (EPS) for the quarter. The company had revenue of C$29.32 billion for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. On average, analysts forecast that Enbridge Inc. will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 14th. Enbridge's payout ratio is currently 147.68%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ENB. National Bank Financial upgraded Enbridge from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from C$81.00 to C$82.00 in a research report on Tuesday, September 15th. BMO Capital Markets raised Enbridge from a "hold" rating to an "outperform" rating and raised their target price for the stock from C$79.00 to C$79.50 in a research 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. Canadian Imperial Bank of Commerce raised shares of Enbridge from a "hold" rating to an "outperformer" rating and boosted their price target for the company from C$77.00 to C$78.00 in a report on Friday, August 28th. Finally, Scotiabank upgraded shares of Enbridge to a "strong-buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$77.62.

Enbridge Company Profile

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.

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