Enbridge (TSE:ENB) Stock Price Passes Above Two Hundred Day Moving Average of $50.40

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$50.40 and traded as high as C$55.44. Enbridge shares last traded at C$54.94, with a volume of 4,312,469 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their target price on Enbridge from C$56.00 to C$57.00 in a report on Wednesday, August 7th. Scotiabank downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. BMO Capital Markets upped their price objective on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. National Bankshares upped their price objective on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company upped their price objective on Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. Five equities 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$54.33.

Enbridge Stock Down 0.9 %

The firm’s 50-day simple moving average is C$53.35 and its 200 day simple moving average is C$50.40. The company has a market cap of C$119.77 billion, a P/E ratio of 21.13, a PEG ratio of 0.75 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The business had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. On average, research analysts forecast that Enbridge Inc. will post 3.0459834 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 140.77%.

Insider Activity at Enbridge

In other news, Director Steven Walter Williams acquired 18,600 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of C$53.74 per share, for a total transaction of C$999,564.00. In other news, Director Steven Walter Williams acquired 18,600 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. 0.10% of the stock is owned by corporate insiders.

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.