Enbridge (TSE:ENB) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

ENB has been the subject of several research analyst reports. Barclays raised their price objective on Enbridge from C$54.00 to C$59.00 in a research note on Monday, November 11th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. CIBC raised their price objective on Enbridge from C$61.00 to C$63.00 in a research note on Wednesday, December 4th. Scotiabank raised their price objective on Enbridge from C$57.00 to C$61.00 in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price target on Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$60.31.

Enbridge Trading Up 0.0 %

The firm has a market cap of C$131.00 billion, a PE ratio of 23.11, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The business has a fifty day moving average price of C$58.96 and a 200 day moving average price of C$54.39.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 6.27%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. 0.10% of the stock is owned by insiders.

Enbridge Company Profile

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.