Enbridge (TSE:ENB) Stock Passes 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 Thursday . The stock has a 200-day moving average of C$58.64 and traded as high as C$60.64. Enbridge shares last traded at C$60.27, with a volume of 6,044,105 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ENB shares. TD Securities increased their target price on shares of Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company upped their target price on shares of Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. Jefferies Financial Group raised their price target on Enbridge from C$59.00 to C$65.00 in a report on Thursday, January 30th. Scotiabank increased their target price on Enbridge from C$61.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$63.23.

Enbridge Stock Performance

The business’s fifty day moving average price is C$62.26 and its two-hundred day moving average price is C$58.64. 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 stock has a market capitalization of C$132.87 billion, a P/E ratio of 19.93, 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 will be paid on Saturday, March 1st. Investors of record on Saturday, March 1st will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 6.15%. The ex-dividend date is Friday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is presently 118.98%.

Insider Buying and Selling

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. 0.10% of the stock is owned by corporate insiders.

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.