On May 31, Enbridge Inc. announced a $400-million bought deal financing priced at $40.71. The stock has since dipped below that level. As the price pulled back, president Al Monaco bought 12,600 shares in the public market at $39.35 on June 5. Despite some public market sales, insiders have actually boosted their holdings by 75,844 shares (not including performance units) over the last year primarily through share-based staff incentive plans. The net share accumulation has helped to position Enbridge with above-median beneficial ownership by officers and directors compared to its peers.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.