Enbridge (TSE:ENB) Share Price Passes Above 200-Day Moving Average of $50.40

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

ENB has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Enbridge from C$45.00 to C$48.00 in a research note on Tuesday, June 4th. BMO Capital Markets increased their target price on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. CIBC boosted their price target on Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Scotiabank cut Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Enbridge from C$56.00 to C$57.00 in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and an average price target of C$54.33.

Enbridge Price Performance

The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The business's 50 day moving average price is C$53.46 and its 200 day moving average price is C$50.43. The stock has a market capitalization of C$119.97 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last announced its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing analysts' consensus estimates of C$0.62 by C($0.04). The company had revenue of C$11.34 billion for the quarter, compared to analysts' expectations of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. Sell-side analysts forecast that Enbridge Inc. will post 3.0459834 EPS for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.915 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 annualized dividend and a yield of 6.65%. Enbridge's payout ratio is 140.77%.

Insider Activity

In other Enbridge news, Director Steven Walter Williams purchased 18,600 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. In other news, Director Steven Walter Williams bought 18,600 shares of Enbridge stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Insiders own 0.10% of the company's stock.

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.