Enbridge Inc (NYSE:ENB) (TSE:ENB) insider Albert Monaco purchased 7,569 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were bought at an average price of $43.82 per share, for a total transaction of $331,673.58. Following the purchase, the insider now directly owns 67,329 shares in the company, valued at approximately $2,950,356.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Enbridge stock traded down $0.23 during mid-day trading on Friday, reaching $32.09. 302,308 shares of the company traded hands, compared to its average volume of 4,543,219. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.98. Enbridge Inc has a fifty-two week low of $29.00 and a fifty-two week high of $41.21. The firm has a market capitalization of $60.08 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.36 and a beta of 0.56.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. The business had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.28 billion. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. During the same quarter in the prior year, the business posted $0.39 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th were paid a $0.51 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.36%. Enbridge’s payout ratio is currently 131.82%.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Wells Fargo & Co upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. UBS Group assumed coverage on shares of Enbridge in a research note on Thursday, October 4th. They set a “buy” rating on the stock. ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Citigroup restated a “neutral” rating on shares of Enbridge in a research note on Monday, September 24th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and a consensus price target of $48.20.
Several large investors have recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of Enbridge by 74.4% in the third quarter. Capital International Investors now owns 101,014,233 shares of the pipeline company’s stock worth $3,260,806,000 after acquiring an additional 43,094,629 shares during the period. Vanguard Group Inc. increased its stake in shares of Enbridge by 2.5% in the third quarter. Vanguard Group Inc. now owns 48,626,327 shares of the pipeline company’s stock worth $1,570,144,000 after acquiring an additional 1,184,467 shares during the period. FIL Ltd increased its stake in shares of Enbridge by 21.5% in the third quarter. FIL Ltd now owns 18,581,538 shares of the pipeline company’s stock worth $599,604,000 after acquiring an additional 3,285,628 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Enbridge by 3.6% in the third quarter. The Manufacturers Life Insurance Company now owns 18,019,891 shares of the pipeline company’s stock worth $581,863,000 after acquiring an additional 618,234 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Enbridge by 5.2% in the second quarter. Legal & General Group Plc now owns 11,156,728 shares of the pipeline company’s stock worth $398,416,000 after acquiring an additional 552,015 shares during the period. Hedge funds and other institutional investors own 54.45% of the company’s stock.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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