Enbridge (TSE:ENB) Shares Pass Above 200 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$69.12 and traded as high as C$74.06. Enbridge shares last traded at C$73.72, with a volume of 11,467,927 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ENB shares. Raymond James Financial boosted their price target on Enbridge from C$75.00 to C$77.00 and gave the company a “moderate buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada boosted their price target on Enbridge from C$72.00 to C$76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the company from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. Finally, ATB Cormark Capital Markets boosted their price target on Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.55.

Enbridge Trading Down 0.5%

The stock has a 50 day moving average of C$73.70 and a 200-day moving average of C$69.12. The company has a market capitalization of C$160.03 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.72 and a beta of 0.87. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 170.86.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. The company had revenue of C$22.36 billion during the quarter. Enbridge had a return on equity of 12.34% and a net margin of 11.50%. On average, research analysts predict that Enbridge Inc. will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.3%. Enbridge’s payout ratio is 117.08%.

Enbridge Company Profile

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.