Enbridge Inc. (TSE:ENB) Declares Dividend Increase – $0.94 Per Share

Enbridge Inc. (TSE:ENB) (NYSE:ENB) declared a quarterly dividend on Tuesday, December 3rd,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.9425 per share on Saturday, March 1st. This represents a $3.77 annualized dividend and a yield of 6.14%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92.

Enbridge Stock Performance

Shares of ENB traded up C$0.44 during mid-day trading on Tuesday, hitting C$61.39. The stock had a trading volume of 509,543 shares, compared to its average volume of 8,468,565. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$61.57. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The business has a fifty day moving average price of C$57.39 and a 200-day moving average price of C$53.24. The firm has a market cap of C$133.83 billion, a P/E ratio of 23.44, a PEG ratio of 1.72 and a beta of 0.90.

Insider Buying and Selling

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ENB. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Raymond James raised their price objective on shares of Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. CIBC lifted their price objective on shares of Enbridge from C$59.00 to C$67.00 in a research note on Monday, November 4th. Finally, Barclays raised their price target on Enbridge from C$54.00 to C$59.00 in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$58.31.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.