Enbridge Inc (TSE:ENB) to Issue Dividend Increase – $0.67 Per Share

Enbridge Inc (TSE:ENB) (NYSE:ENB) declared a quarterly dividend on Wednesday, November 29th, RTT News reports. Stockholders of record on Wednesday, November 29th will be given a dividend of 0.671 per share on Thursday, March 1st. This represents a $2.68 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Wednesday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.61.

Enbridge (TSE:ENB) opened at C$42.95 on Tuesday. The company has a market capitalization of $72,800.00, a price-to-earnings ratio of 21.91 and a beta of 0.18. Enbridge has a 52-week low of C$42.00 and a 52-week high of C$57.75.

ENB has been the topic of several analyst reports. Royal Bank of Canada reduced their price objective on Enbridge from C$64.00 to C$63.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. BMO Capital Markets reduced their price objective on Enbridge from C$66.00 to C$63.00 in a research note on Tuesday, February 6th. Scotiabank reduced their price objective on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. TD Securities reduced their price objective on Enbridge from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, CIBC cut their price target on Enbridge from C$69.00 to C$67.00 in a research note on Friday, November 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$59.91.

In other Enbridge news, Director Michael E.J. Phelps sold 900 shares of Enbridge stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total value of C$45,054.00. Also, insider Vernon Dai-Chung Yu sold 9,700 shares of Enbridge stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of C$50.20, for a total value of C$486,940.00. Insiders have sold 13,719 shares of company stock worth $687,970 in the last quarter.

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Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

Dividend History for Enbridge (TSE:ENB)

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