Enbridge (TSE:ENB) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$60.00 and traded as high as C$63.90. Enbridge shares last traded at C$63.78, with a volume of 5,278,995 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ENB shares. Citigroup set a C$75.00 price target on Enbridge and gave the stock a "buy" rating in a research note on Friday. Scotiabank lifted their target price on Enbridge from C$61.00 to C$65.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Royal Bank of Canada upped their price target on shares of Enbridge from C$63.00 to C$67.00 in a report on Tuesday, February 18th. Raymond James increased their price objective on Enbridge from C$65.00 to C$67.00 in a research note on Tuesday, February 18th. Finally, TD Securities lifted their target price on Enbridge from C$66.00 to C$67.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$64.14.

Enbridge Stock Down 1.2 %

The company's fifty day simple moving average is C$62.18 and its 200-day simple moving average is C$60.24. The firm has a market capitalization of C$127.97 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 6.38%. This is an increase from Enbridge's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, February 14th. Enbridge's payout ratio is 118.98%.

Insider Buying and Selling at Enbridge

In other news, Senior Officer Matthew Allan Akman bought 1,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of C$61.24 per share, with a total value of C$61,240.00. Also, Senior Officer Michele Eva Harradence acquired 5,857 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of C$62.53 per share, for a total transaction of C$366,238.21. 0.10% of the stock is currently owned by company insiders.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company.