Enbridge Inc (TSE:ENB) (NYSE:ENB) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $47.59 and traded as low as $47.46. Enbridge shares last traded at $47.46, with a volume of 848,066 shares changing hands.
A number of equities research analysts recently weighed in on the company. Wells Fargo & Co upgraded Medtronic from a “market perform” rating to an “outperform” rating and increased their price target for the company from $100.00 to $110.00 in a research note on Tuesday, June 4th. National Bank Financial upgraded Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Enbridge has a consensus rating of “Buy” and an average price target of C$54.40.
The company has a debt-to-equity ratio of 90.94, a quick ratio of 0.54 and a current ratio of 0.64. The stock has a market cap of $95.78 billion and a PE ratio of 21.61. The business has a 50-day simple moving average of C$47.43.
In other news, Director Albert Monaco acquired 7,848 shares of the stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of C$49.81 per share, for a total transaction of C$390,908.88. Following the transaction, the director now directly owns 824,530 shares of the company’s stock, valued at C$41,069,839.30.
Enbridge Company Profile (TSE:ENB)
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
Further Reading: How is a Moving Average Calculated?
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