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 Thursday . The stock has a two hundred day moving average of C$69.12 and traded as high as C$74.06. Enbridge shares last traded at C$73.72, with a volume of 11,467,927 shares trading hands.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price target on Enbridge from C$72.00 to C$76.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. ATB Cormark Capital Markets lifted their price target on Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Scotiabank lifted their price target on Enbridge from C$73.00 to C$77.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating and cut their price target for the company from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average price target of C$73.55.

Enbridge Trading Down 0.4%

The firm has a market capitalization of C$160.88 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 1.72 and a beta of 0.87. The company has a fifty day moving average price of C$73.70 and a two-hundred day moving average price of C$69.12. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 170.86.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. The business had revenue of C$17.18 billion for the quarter. Enbridge had a return on equity of 12.34% and a net margin of 11.50%. As a group, research analysts forecast that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Sunday, March 1st were issued a $0.97 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, February 17th. Enbridge’s payout ratio is currently 117.08%.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.