Enbridge Inc (ENB) Insider Albert Monaco Purchases 7,569 Shares

Enbridge Inc (NYSE:ENB) (TSE:ENB) insider Albert Monaco bought 7,569 shares of the stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average price of $43.82 per share, with a total value of $331,673.58. Following the completion of the acquisition, the insider now directly owns 67,329 shares of the company’s stock, valued at approximately $2,950,356.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of ENB stock traded down $0.54 during trading hours on Thursday, hitting $32.32. 8,552,300 shares of the company’s stock traded hands, compared to its average volume of 3,715,823. Enbridge Inc has a 12-month low of $29.00 and a 12-month high of $41.21. The firm has a market capitalization of $60.08 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.27 and a beta of 0.56. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.49 and a current ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period last year, the business earned $0.39 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $2.04 annualized dividend and a dividend yield of 6.31%. Enbridge’s payout ratio is 131.82%.

Several hedge funds have recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in Enbridge by 74.4% in the 3rd 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 last quarter. Toronto Dominion Bank raised its holdings in Enbridge by 123.0% in the 2nd quarter. Toronto Dominion Bank now owns 9,644,840 shares of the pipeline company’s stock worth $347,031,000 after acquiring an additional 5,319,398 shares during the last quarter. FIL Ltd raised its holdings in Enbridge by 21.5% in the 3rd 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 last quarter. JPMorgan Chase & Co. raised its holdings in Enbridge by 271.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,415 shares of the pipeline company’s stock worth $79,350,000 after acquiring an additional 1,796,637 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Enbridge in the 3rd quarter worth approximately $45,402,000. Hedge funds and other institutional investors own 54.45% of the company’s stock.

Several research firms have recently issued reports on ENB. ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $50.00 in a report on Friday, August 17th. Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Wells Fargo & Co upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Finally, Citigroup reiterated a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Enbridge has an average rating of “Buy” and an average price target of $48.20.

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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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