Enbridge (TSE:ENB) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$64.93 and traded as high as C$67.35. Enbridge shares last traded at C$67.08, with a volume of 11,051,402 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. CIBC upped their price target on shares of Enbridge from C$70.00 to C$71.00 in a research report on Monday, November 10th. ATB Capital upped their target price on Enbridge from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Argus upgraded Enbridge to a “strong-buy” rating in a research note on Tuesday, August 12th. National Bankshares boosted their price target 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. Finally, Scotiabank upped their price target on Enbridge from C$65.00 to C$69.00 and gave the stock a “sector perform” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$69.50.

Enbridge Stock Performance

The stock has a market cap of C$146.32 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.72 and a beta of 0.91. The company’s 50 day simple moving average is C$67.38 and its 200 day simple moving average is C$64.93. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$14.64 billion during the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. On average, equities research analysts anticipate that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, December 1st will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s dividend payout ratio (DPR) is presently 146.76%.

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.