Enbridge (TSE:ENB) Shares Cross Above 200-Day Moving Average – Time to Sell?

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) 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.

Analyst Ratings Changes

A number of equities analysts recently commented on ENB shares. BMO Capital Markets raised their target price on Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Scotiabank raised their price objective on Enbridge from C$61.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. TD Securities boosted their price objective on Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. CIBC raised their target price on shares of Enbridge from C$66.00 to C$67.00 in a research note on Wednesday, March 5th. Finally, Barclays lifted their price target on shares of Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$63.31.

Enbridge Stock Performance

The company has a market capitalization of C$138.23 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The business’s fifty day simple moving average is C$62.33 and its 200-day simple moving average is C$60.00.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 5.91%. This is a boost 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

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