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

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$60.67 and traded as high as C$63.52. Enbridge shares last traded at C$63.11, with a volume of 8,668,737 shares traded.

Wall Street Analyst Weigh In

ENB has been the subject of several research reports. Royal Bank of Canada increased their price target on shares of Enbridge from C$63.00 to C$67.00 in a research note on Tuesday, February 18th. Scotiabank raised their target price on shares of Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Raymond James boosted their price target on Enbridge from C$65.00 to C$67.00 in a research report on Tuesday, February 18th. CIBC raised their price objective on Enbridge from C$66.00 to C$67.00 in a research report on Wednesday, March 5th. Finally, Citigroup set a C$75.00 target price on Enbridge and gave the stock a “buy” rating in a report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$64.14.

Enbridge Stock Up 1.4 %

The company’s 50 day simple moving average is C$61.40 and its 200-day simple moving average is C$60.67. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm has a market cap of C$136.77 billion, a P/E ratio of 20.52, a PEG ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were issued a $0.9425 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.77 annualized dividend and a yield of 5.97%. This is a boost from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio (DPR) is currently 118.98%.

Insider Buying and Selling at Enbridge

In other news, Senior Officer Matthew Allan Akman purchased 1,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of C$61.24 per share, for a total transaction of C$61,240.00. Also, Senior Officer Michele Eva Harradence acquired 5,857 shares of the stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of C$62.53 per share, for a total transaction of C$366,238.21. Company 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.