Enbridge (TSE:ENB) Share Price Passes 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 passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ENB shares. National Bankshares boosted their target price on Enbridge from C$64.00 to C$65.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. ATB Capital boosted their target price on Enbridge from C$66.00 to C$67.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating and boosted their target price for the company from C$65.00 to C$72.00 in a research note on Wednesday, July 23rd. Finally, BMO Capital Markets increased their price target on Enbridge from C$60.00 to C$63.00 in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$67.07.

Enbridge Price Performance

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 market capitalization of C$140.98 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The business has a fifty day moving average of C$62.29 and a two-hundred day moving average of C$62.39.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Monday, September 1st will be issued 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 dividend yield of 5.8%. Enbridge's payout ratio is presently 118.98%.

Insider Buying and Selling at Enbridge

In related news, Senior Officer Maximilian Chan sold 801 shares of the business's 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 transaction of C$50,599.17. 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.