Enbridge (TSE:ENB) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Enbridge's stock price crossed above its two hundred day moving average, trading at C$64.76, with a notable volume of 9,491,867 shares.
• Analysts have upgraded Enbridge, with target prices ranging from C$67.00 to C$74.00 and a consensus rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.9425 per share, leading to an annualized yield of 5.8%.

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB's stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$62.41 and traded as high as C$64.85. Enbridge shares last traded at C$64.76, with a volume of 9,491,867 shares traded.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ENB. ATB Capital boosted their target price on Enbridge from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research report on Tuesday. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating and lifted their price target for the company from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. Echelon Wealth Partners upped their price objective on shares of Enbridge from C$67.00 to C$74.00 in a research report on Wednesday, April 23rd. 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. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and a consensus price target of C$67.07.

Enbridge Stock Up 0.2%

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 has a fifty day simple moving average of C$62.25 and a 200-day simple moving average of C$62.41. The company has a market capitalization of C$140.35 billion, a PE ratio of 21.05, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Monday, September 1st will be given a dividend of $0.9425 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.77 dividend on an annualized basis and a yield of 5.8%. Enbridge's dividend payout ratio (DPR) is presently 118.98%.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 801 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of C$63.17, for a total value of C$50,599.17. Corporate insiders own 0.10% of the company's stock.

About Enbridge

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.

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