Enbridge (TSE:ENB) Stock Price Crosses Below 200-Day Moving Average of $48.28

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$48.28 and traded as low as C$47.42. Enbridge shares last traded at C$47.97, with a volume of 8,872,770 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ENB shares. Barclays dropped their target price on Enbridge from C$53.00 to C$51.00 in a report on Thursday, March 7th. Wells Fargo & Company increased their price objective on Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. Stifel Nicolaus cut their price objective on Enbridge from C$52.00 to C$51.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Scotiabank lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Jefferies Financial Group lifted their price objective on Enbridge from C$53.00 to C$55.00 in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$53.44.

Enbridge Stock Up 1.0 %

The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 130.31. The company has a market capitalization of C$102.18 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88. The company has a 50-day moving average of C$49.14 and a two-hundred day moving average of C$48.28.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, May 10th. The company reported C$0.92 earnings per share for the quarter, beating the consensus estimate of C$0.81 by C$0.11. The company had revenue of C$11.04 billion for the quarter, compared to analyst estimates of C$12.24 billion. Enbridge had a return on equity of 8.70% and a net margin of 13.81%. On average, research analysts predict that Enbridge Inc. will post 2.8613689 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s payout ratio is 138.64%.

Enbridge Company Profile

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.