Enbridge (TSE:ENB) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Enbridge Inc.'s stock price recently crossed above its 200-day moving average, trading at C$66.70, indicating potential positive momentum.
• Several analysts have raised their price targets for Enbridge, with a consensus rating of "Moderate Buy" and an average target price of C$67.07.
• The company declared a quarterly dividend of $0.9425, resulting in a 5.7% dividend yield, with the ex-dividend date set for August 15th.

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$62.52 and traded as high as C$66.93. Enbridge shares last traded at C$66.70, with a volume of 7,375,144 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating and boosted their target price for the stock from C$65.00 to C$72.00 in a research report on Wednesday, July 23rd. ATB Capital boosted their target price on shares of Enbridge from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Argus upgraded shares of Enbridge to a "strong-buy" rating in a research report on Tuesday, August 12th. National Bankshares boosted their target price on shares of Enbridge from C$64.00 to C$65.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 5th. Finally, BMO Capital Markets boosted their target price on shares of Enbridge from C$60.00 to C$63.00 in a research report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$67.07.

Enbridge Stock Up 0.0%

The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The firm's 50-day moving average is C$62.92 and its 200 day moving average is C$62.60. The firm has a market capitalization of C$142.36 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Monday, September 1st will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio is 118.98%.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company.