Enbridge (TSE:ENB) Stock Passes Below Two Hundred Day Moving Average - What's Next?

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB's share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$62.32 and traded as low as C$60.87. Enbridge shares last traded at C$61.75, with a volume of 4,967,784 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ENB shares. BMO Capital Markets upped their price target on shares of Enbridge from C$60.00 to C$63.00 in a research report on Monday, May 12th. Citigroup set a C$75.00 price target on Enbridge and gave the stock a "buy" rating in a research report on Friday, April 4th. Echelon Wealth Partners lifted their price target on Enbridge from C$67.00 to C$74.00 in a research note on Wednesday, April 23rd. Finally, Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$66.00.

Enbridge Stock Down 0.0%

The company's fifty day simple moving average is C$63.02 and its 200 day simple moving average is C$62.32. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm has a market capitalization of C$131.96 billion, a P/E ratio of 19.79, 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 was paid on Sunday, June 1st. Stockholders of record on Sunday, June 1st were given a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 6.19%. The ex-dividend date was Thursday, May 15th. Enbridge's dividend payout ratio is currently 118.98%.

Insider Transactions at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 801 shares of the firm's stock in a transaction 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. Company 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.