Enbridge Inc (NYSE:ENB) (TSE:ENB) insider Byron C. Neiles sold 64,000 shares of the stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $43.10, for a total value of $2,758,400.00. Following the completion of the sale, the insider now directly owns 128,665 shares of the company’s stock, valued at $5,545,461.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NYSE:ENB traded down $0.16 during mid-day trading on Friday, reaching $34.54. 3,425,000 shares of the company’s stock traded hands, compared to its average volume of 4,856,605. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $40.07. The company has a market cap of $69.71 billion, a PE ratio of 22.43, a P/E/G ratio of 2.03 and a beta of 0.54. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.49.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.28 billion. Enbridge had a return on equity of 8.81% and a net margin of 3.95%. During the same period in the previous year, the firm posted $0.39 EPS. Analysts expect that Enbridge Inc will post 2.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a $0.555 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.51. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date is Thursday, February 14th. Enbridge’s payout ratio is currently 131.82%.
A number of analysts recently commented on the company. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, December 31st. ValuEngine raised Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Wolfe Research raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday. Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Finally, Citigroup reissued a “neutral” rating on shares of Enbridge in a research note on Monday, September 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.20.
Institutional investors and hedge funds have recently modified their holdings of the company. Neville Rodie & Shaw Inc. raised its holdings in Enbridge by 2.5% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 19,287 shares of the pipeline company’s stock worth $599,000 after acquiring an additional 469 shares during the last quarter. North Star Investment Management Corp. raised its holdings in Enbridge by 27.8% in the 4th quarter. North Star Investment Management Corp. now owns 2,203 shares of the pipeline company’s stock worth $68,000 after acquiring an additional 479 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Enbridge by 1.1% in the 4th quarter. CENTRAL TRUST Co now owns 48,465 shares of the pipeline company’s stock worth $1,506,000 after acquiring an additional 527 shares during the last quarter. Csenge Advisory Group purchased a new stake in Enbridge during the 3rd quarter valued at $28,000. Finally, First Hawaiian Bank raised its stake in Enbridge by 10.2% during the 4th quarter. First Hawaiian Bank now owns 9,501 shares of the pipeline company’s stock valued at $296,000 after buying an additional 878 shares during the last quarter. 49.11% of the stock is currently owned by hedge funds and other institutional investors.
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Enbridge Company Profile
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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