Enbridge (TSE:ENB) Share Price Passes Above 200 Day Moving Average of $48.31

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$48.31 and traded as high as C$49.13. Enbridge shares last traded at C$48.93, with a volume of 6,186,115 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on ENB shares. Stifel Nicolaus cut their target price on Enbridge from C$52.00 to C$51.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company boosted their price objective on Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. Scotiabank cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. boosted their price objective on Enbridge from C$55.00 to C$56.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Finally, Barclays lowered their target price on Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average target price of C$53.44.

Enbridge Stock Performance

The company has a 50-day moving average of C$49.29 and a 200 day moving average of C$48.31. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 130.31. The firm has a market capitalization of C$104.22 billion, a PE ratio of 18.53, a PEG ratio of 0.75 and a beta of 0.88.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, May 10th. The company reported C$0.92 EPS for the quarter, topping the consensus estimate of C$0.81 by C$0.11. Enbridge had a return on equity of 8.70% and a net margin of 13.81%. The business had revenue of C$11.04 billion during the quarter, compared to analysts’ expectations of C$12.24 billion. Equities research analysts predict that Enbridge Inc. will post 2.8613689 EPS for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date was Tuesday, May 14th. Enbridge’s payout ratio is currently 138.64%.

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.