Enbridge (TSE:ENB) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Enbridge's stock crossed above its 200-day moving average (200‑DMA C$67.76) and was last at C$73.32 after reaching C$74.82 on volume of about 10.9 million shares.
• The company raised its quarterly dividend to C$0.97 (annualized C$3.88), a 5.3% yield, though the payout ratio is roughly 117%, suggesting the dividend exceeds current earnings coverage.
• Analysts have a Moderate Buy consensus with an average price target of C$73.31—basically in line with the current price—reflecting mixed ratings and limited near-term upside.

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB's stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$67.76 and traded as high as C$74.82. Enbridge shares last traded at C$73.32, with a volume of 10,933,390 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ENB shares. BMO Capital Markets lifted their price objective on shares of Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. Canadian Imperial Bank of Commerce lowered their price target on Enbridge from C$71.00 to C$69.00 in a research report on Wednesday, December 17th. TD Securities lowered Enbridge from a "buy" rating to a "hold" rating and lifted their price target for the stock from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. National Bank Financial upped their price objective on Enbridge from C$71.00 to C$72.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 17th. Finally, ATB Cormark Capital Markets increased their price objective on Enbridge from C$72.00 to C$78.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$73.31.

Enbridge Price Performance

The firm has a market cap of C$160.01 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 170.86. The stock has a 50 day simple moving average of C$69.82 and a 200-day simple moving average of C$67.76.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last released its earnings results on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. Enbridge had a return on equity of 12.34% and a net margin of 11.50%.The firm had revenue of C$17.18 billion during the quarter. Equities analysts anticipate that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Sunday, March 1st were issued a $0.97 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 5.3%. This is an increase from Enbridge's previous quarterly dividend of $0.94. Enbridge's payout ratio is presently 117.08%.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.

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