Enbridge (TSE:ENB) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Enbridge Inc. stock recently traded above its 200-day moving average at C$66.45, indicating potential bullish momentum.
• Multiple analysts have raised their target prices for Enbridge shares, with a current consensus rating of "Moderate Buy" and an average target price of C$67.07.
• The company declared a quarterly dividend of $0.9425 per share, leading to an annualized dividend yield of 5.7%, despite a relatively high dividend payout ratio of 130.81%.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$62.62 and traded as high as C$66.74. Enbridge shares last traded at C$66.45, with a volume of 4,337,296 shares changing hands.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Enbridge from C$60.00 to C$63.00 in a research report on Monday, May 12th. Argus raised shares of Enbridge to a "strong-buy" rating in a research note on Tuesday, August 12th. ATB Capital lifted their price target on shares of Enbridge from C$66.00 to C$67.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating and upped their price objective for the company from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. Finally, National Bankshares increased their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$67.07.

Enbridge Stock Performance

The stock has a fifty day moving average of C$63.29 and a 200-day moving average of C$62.66. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The stock has a market capitalization of C$145.14 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Monday, September 1st were paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is 130.81%.

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.