05:49:53 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-07-05 C$ 46.10
Market Cap C$ 78,582,177,371
Recent Sedar Documents

Globe's Berman celebrates Enbridge's return to boring

2018-07-05 08:03 ET - In the News

The Globe and Mail reports in its Thursday edition that Enbridge has rebounded 25 per cent over the past two months, sending its dividend yield down to 5.7 per cent. The Globe's David Berman writes that subsiding bond yields are helping. So is the recent regulatory approval from Minnesota for Enbridge's Line 3 route through the state. A deal announced on Wednesday to sell Enbridge's Canadian natural-gas-gathering and processing business for $4.3-billion suggests that there is demand for energy assets. The market is now signalling renewed confidence in the company. It helps that Enbridge insiders have been particularly enthusiastic buyers of the stock in recent months, reflecting confidence from inside the company. Insiders sell shares for any number of reasons, but they buy shares for only one: to make money. Just about every regulatory filing since March reveals an appetite for the beaten-up shares among key insiders. Dan Tutcher, an Enbridge director, doubled his Enbridge holdings to about 1.3 million shares prior a June 15 regulatory filing. His shares are now valued at about $61-million. Al Monaco bought 80,000 shares prior to a March 23 filing, taking his total share ownership to about 80,000.

© 2024 Canjex Publishing Ltd. All rights reserved.