Enbridge Inc (TSE:ENB) to Issue $0.74 Quarterly Dividend

Enbridge Inc (TSE:ENB) (NYSE:ENB) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.738 per share on Saturday, June 1st. This represents a $2.95 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Tuesday, May 14th.

Shares of ENB stock traded up C$0.13 during trading hours on Friday, hitting C$49.76. The company had a trading volume of 5,458,120 shares, compared to its average volume of 5,119,149. The company has a debt-to-equity ratio of 90.94, a quick ratio of 0.54 and a current ratio of 0.64. Enbridge has a fifty-two week low of C$39.40 and a fifty-two week high of C$51.22. The firm has a market cap of $100.44 billion and a P/E ratio of 22.70.

In other Enbridge news, Director Albert Monaco purchased 7,806 shares of Enbridge stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of C$49.33 per share, with a total value of C$385,069.98. Following the completion of the transaction, the director now directly owns 813,101 shares in the company, valued at approximately C$40,110,272.33.

A number of research analysts recently commented on the stock. National Bank Financial raised shares of Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Wednesday, March 20th. CSFB reaffirmed an “outperform” rating and issued a C$55.00 target price on shares of Enbridge in a research report on Monday, March 4th. BMO Capital Markets dropped their target price on shares of Enbridge from C$59.00 to C$57.00 in a research report on Monday, March 4th. TD Securities increased their target price on shares of Enbridge from C$56.00 to C$57.00 in a research report on Tuesday, February 19th. Finally, UBS Group downgraded shares of Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of C$55.00.

COPYRIGHT VIOLATION NOTICE: “Enbridge Inc (TSE:ENB) to Issue $0.74 Quarterly Dividend” was first published by Rockland Register and is the property of of Rockland Register. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://rocklandregister.com/2019/05/31/enbridge-inc-enb-to-issue-quarterly-dividend-of-0-74-on-june-1st.html.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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.

Read More: What is the significance of a dead cat bounce?

Dividend History for Enbridge (TSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.