Enbridge (TSE:ENB) Share Price Passes 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 Monday . The stock has a two hundred day moving average of C$54.31 and traded as high as C$60.09. Enbridge shares last traded at C$60.07, with a volume of 4,760,211 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ENB shares. BMO Capital Markets boosted their price objective on Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their target price on shares of Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. Royal Bank of Canada upped their price target on shares of Enbridge from C$59.00 to C$63.00 in a research note on Wednesday, December 4th. Finally, Raymond James upped their price target on shares of Enbridge from C$59.00 to C$63.00 in a research note on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average target price of C$60.31.

Enbridge Price Performance

The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a market cap of C$131.00 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company’s 50-day moving average is C$58.96 and its 200-day moving average is C$54.39.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 6.27%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is 140.77%.

Insider Buying and Selling

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Company insiders own 0.10% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, 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.