Enbridge (TSE:ENB) Stock Passes Above 200 Day Moving Average – What’s Next?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$65.74 and traded as high as C$66.18. Enbridge shares last traded at C$66.05, with a volume of 7,008,109 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group cut their target price on Enbridge from C$73.00 to C$71.00 in a research report on Tuesday, December 23rd. BMO Capital Markets lifted their price target on Enbridge from C$67.00 to C$70.00 in a research note on Thursday, December 4th. Barclays boosted their price objective on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Raymond James Financial upped their price objective on shares of Enbridge from C$74.00 to C$76.00 in a research note on Monday, November 10th. Finally, Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$71.50.

Enbridge Stock Performance

The stock has a market capitalization of C$144.19 billion, a PE ratio of 25.90, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The firm has a 50 day moving average of C$65.69 and a 200-day moving average of C$65.74.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its 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 for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. Research analysts forecast that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, December 1st were paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, November 14th. Enbridge’s dividend payout ratio is currently 146.76%.

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.