Enbridge (TSE:ENB) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$65.23 and traded as high as C$65.55. Enbridge shares last traded at C$65.24, with a volume of 6,281,855 shares traded.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Enbridge from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Scotiabank raised their price objective on Enbridge from C$65.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. BMO Capital Markets upped their target price on Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. Royal Bank Of Canada increased their price target on Enbridge from C$67.00 to C$72.00 in a report on Monday, November 10th. Finally, Barclays boosted their price objective on shares of Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$70.58.

Enbridge Stock Up 0.2%

The firm has a 50-day moving average price of C$66.90 and a two-hundred day moving average price of C$65.23. The company has a market capitalization of C$142.42 billion, a P/E ratio of 25.58, a PEG ratio of 1.72 and a beta of 0.91. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86.

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 firm 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%. Equities research analysts anticipate that Enbridge Inc. will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were paid a $0.9425 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a yield of 5.8%. Enbridge’s payout ratio 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.