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

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$71.18 and traded as high as C$78.49. Enbridge shares last traded at C$78.38, with a volume of 10,995,732 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. TD raised their target price on Enbridge from C$73.00 to C$79.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. ATB Cormark Capital Markets raised their target price on Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. TD Securities cut Enbridge from a “buy” rating to a “hold” rating and raised their target price for the company from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. Barclays raised their target price on Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the company from C$71.00 to C$76.00 in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average target price of C$75.33.

Enbridge Stock Performance

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 50-day moving average price is C$75.60 and its two-hundred day moving average price is C$71.18. The company has a market cap of C$171.16 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share 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, equities analysts forecast that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 5.0%. Enbridge’s dividend payout ratio (DPR) is 128.73%.

Insider Activity

In other news, insider Melissa Marie Laforge sold 855 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the completion of the transaction, the insider owned 7,904 shares in the company, valued at approximately C$633,584.64. This trade represents a 9.76% decrease in their position. Also, Director Mayank Mulraj Ashar sold 5,000 shares of Enbridge stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total value of C$390,400.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at C$3,513,600. The trade was a 10.00% decrease in their ownership of the stock. In the last 90 days, insiders have sold 8,855 shares of company stock valued at $695,547. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.