Enbridge (TSE:ENB) Share Price Passes Below 200-Day Moving Average of $54.81

Enbridge Inc. (TSE:ENBGet Rating) (NYSE:ENB)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$54.81 and traded as low as C$53.43. Enbridge shares last traded at C$54.08, with a volume of 20,187,902 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Enbridge from C$63.00 to C$60.00 in a research report on Tuesday, September 20th. UBS Group lowered their price objective on shares of Enbridge from C$62.00 to C$59.00 in a research note on Monday, October 3rd. Scotiabank reduced their target price on shares of Enbridge from C$62.00 to C$56.00 in a report on Thursday, October 20th. CIBC raised their price objective on shares of Enbridge from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Monday, November 7th. Finally, Raymond James upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$57.00 to C$60.00 in a research report on Monday, September 12th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$57.94.

Enbridge Price Performance

The firm has a 50 day moving average price of C$52.76 and a 200 day moving average price of C$54.81. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 121.96. The stock has a market cap of C$109.50 billion and a P/E ratio of 20.03.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 6.36%. Enbridge’s payout ratio is 126.48%.

About Enbridge

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Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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