Enbridge (TSE:ENB) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$60.36 and traded as high as C$61.17. Enbridge shares last traded at C$61.05, with a volume of 5,343,315 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on ENB shares. Jefferies Financial Group boosted their price objective on Enbridge from C$59.00 to C$65.00 in a report on Thursday, January 30th. Barclays boosted their price target on shares of Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. Raymond James increased their price objective on shares of Enbridge from C$65.00 to C$67.00 in a report on Tuesday, February 18th. Citigroup set a C$75.00 target price on shares of Enbridge and gave the stock a “buy” rating in a report on Friday, April 4th. Finally, TD Securities increased their price target on Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$64.14.

Enbridge Stock Performance

The stock has a market cap of C$132.31 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The stock’s 50 day simple moving average is C$61.61 and its two-hundred day simple moving average is C$60.36. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were issued a dividend of $0.9425 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a dividend yield of 6.18%. Enbridge’s dividend payout ratio (DPR) is presently 118.98%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Senior Officer Matthew Allan Akman acquired 1,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were purchased at an average price of C$61.24 per share, for a total transaction of C$61,240.00. Also, Senior Officer Michele Eva Harradence acquired 5,857 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of C$62.53 per share, for a total transaction of C$366,238.21. Company 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.