Enbridge (TSE:ENB) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB's stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$62.16 and traded as high as C$62.88. Enbridge shares last traded at C$62.69, with a volume of 7,807,337 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ENB shares. TD Securities increased their price target on shares of Enbridge from C$66.00 to C$67.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. CIBC increased their target price on Enbridge from C$66.00 to C$67.00 in a research note on Wednesday, March 5th. Royal Bank of Canada lifted their price target on Enbridge from C$63.00 to C$67.00 in a research report on Tuesday, February 18th. Scotiabank upped their price target on shares of Enbridge from C$61.00 to C$65.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Finally, Citigroup set a C$75.00 price objective on shares of Enbridge and gave the company a "buy" rating in a research note on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$66.00.

Enbridge Price Performance

The firm has a 50 day moving average price of C$62.76 and a 200-day moving average price of C$62.16. The firm has a market capitalization of C$138.03 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Sunday, June 1st were paid a dividend of $0.9425 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.77 annualized dividend and a dividend yield of 5.92%. Enbridge's dividend payout ratio (DPR) is presently 118.98%.

Insider Transactions at Enbridge

In other news, Senior Officer Michele Eva Harradence purchased 5,857 shares of the stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average cost of C$62.53 per share, with a total value of C$366,238.21. Also, Senior Officer Matthew Allan Akman bought 1,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was bought at an average price of C$61.24 per share, with a total value of C$61,240.00. Insiders own 0.10% of the company's stock.

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.