Insider Buying: Enbridge Inc. (TSE:ENB) Senior Officer Purchases C$366,238.21 in Stock

Enbridge Inc. (TSE:ENB) (NYSE:ENB) Senior Officer Michele Eva Harradence bought 5,857 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of C$62.53 per share, with a total value of C$366,238.21.

Enbridge Stock Performance

Shares of ENB opened at C$62.94 on Monday. Enbridge Inc. has a one year low of C$45.39 and a one year high of C$65.62. The company has a 50-day moving average of C$62.35 and a two-hundred day moving average of C$59.63. The stock has a market cap of C$136.40 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were issued a dividend of $0.9425 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a dividend yield of 5.99%. The ex-dividend date was Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 118.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ENB. BMO Capital Markets raised their price objective on shares of Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Raymond James raised their price objective on shares of Enbridge from C$65.00 to C$67.00 in a research report on Tuesday, February 18th. Scotiabank raised their price objective on shares of Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Finally, Barclays raised their price objective on shares of Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.