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

Enbridge Inc. (TSE:ENB) (NYSE:ENB) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$71.61 and traded as high as C$79.23. Enbridge shares last traded at C$79.23, with a volume of 4,433,453 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on ENB shares. Scotiabank upped their price objective on shares of Enbridge from C$77.00 to C$78.00 and gave the company a “sector outperform” rating in a research report on Monday, May 11th. Raymond James Financial lifted their target price on Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Barclays boosted their price target on Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. Royal Bank Of Canada upped their price target on Enbridge from C$76.00 to C$79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, TD raised their price objective on Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of C$75.50.

Enbridge Price Performance

The stock has a market cap of C$174.11 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. The company’s fifty day simple moving average is C$75.99 and its 200-day simple moving average is C$71.69.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, May 8th. The company reported C$0.98 EPS for the quarter. Enbridge had a net margin of 9.43% and a return on equity of 11.11%. The company had revenue of C$22.36 billion during the quarter. As a group, sell-side analysts forecast that Enbridge Inc. will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, June 1st were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is presently 128.73%.

Insider Buying and Selling

In other news, Director Mayank Mulraj Ashar sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$78.87, for a total value of C$236,610.00. Following the sale, the director directly owned 42,000 shares in the company, valued at approximately C$3,312,540. This represents a 6.67% decrease in their position. Also, insider Melissa Marie Laforge sold 855 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total value of C$68,536.80. Following the completion of the transaction, the insider directly owned 7,904 shares of the company’s stock, valued at approximately C$633,584.64. The trade was a 9.76% decrease in their ownership of the stock. Insiders have sold 8,855 shares of company stock worth $695,547 over the last ninety days. Company insiders own 0.10% of the company’s stock.

About Enbridge

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.