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

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$60.36 and traded as high as C$61.17. Enbridge shares last traded at C$61.05, with a volume of 5,343,315 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ENB shares. Royal Bank of Canada lifted their target price on Enbridge from C$63.00 to C$67.00 in a research report on Tuesday, February 18th. Citigroup set a C$75.00 target price on shares of Enbridge and gave the company a “buy” rating in a research note on Friday, April 4th. TD Securities raised their price target on Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Barclays raised their price target on Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Finally, Raymond James upped their price objective on Enbridge from C$65.00 to C$67.00 in a report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$64.14.

Enbridge Price Performance

The stock’s 50 day simple moving average is C$61.57 and its 200 day simple moving average is C$60.41. 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 market capitalization of C$134.17 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were paid a dividend of $0.9425 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.77 annualized dividend and a dividend yield of 6.09%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio (DPR) is currently 118.98%.

Insider Activity at Enbridge

In related news, Senior Officer Michele Eva Harradence bought 5,857 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of C$62.53 per share, with a total value of C$366,238.21. Also, Senior Officer Matthew Allan Akman purchased 1,000 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of C$61.24 per share, with a total value of C$61,240.00. 0.10% of the stock is currently owned by corporate insiders.

About Enbridge

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.