Enbridge (TSE:ENB) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$60.36 and traded as high as C$61.17. Enbridge shares last traded at C$61.05, with a volume of 5,343,315 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Raymond James boosted their price target on Enbridge from C$65.00 to C$67.00 in a report on Tuesday, February 18th. Barclays increased their price objective on Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Royal Bank of Canada lifted their target price on Enbridge from C$63.00 to C$67.00 in a report on Tuesday, February 18th. Scotiabank upped their price target on Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, TD Securities raised their price objective on Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$64.14.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The stock has a fifty day simple moving average of C$61.61 and a two-hundred day simple moving average of C$60.36. The firm has a market capitalization of C$132.31 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, March 1st were paid a $0.9425 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 6.18%. The ex-dividend date was Friday, February 14th. Enbridge’s payout ratio is 118.98%.

Insider Activity

In other news, Senior Officer Matthew Allan Akman purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were bought 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 purchased 5,857 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average price of C$62.53 per share, for a total transaction of C$366,238.21. Corporate insiders own 0.10% of the company’s stock.

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.