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

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$71.61 and traded as high as C$79.23. Enbridge shares last traded at C$79.23, with a volume of 4,433,453 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on ENB. TD upped their price objective on shares of Enbridge from C$73.00 to C$79.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada raised their target price on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. National Bank Financial boosted their target price on shares of Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Raymond James Financial upped their price target on shares of Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Barclays increased their target price on Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$75.33.

Enbridge Price Performance

The stock has a market cap of C$173.01 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company has a quick ratio of 0.44, a current ratio of 0.81 and a debt-to-equity ratio of 168.58. The company’s fifty day moving average is C$75.89 and its 200 day moving average is C$71.61.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. The company had revenue of C$22.36 billion during the quarter. Enbridge had a net margin of 9.43% and a return on equity of 11.11%. As a group, sell-side analysts anticipate that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, June 1st were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 4.9%. Enbridge’s dividend payout ratio (DPR) is 128.73%.

Insider Activity

In other Enbridge news, insider Melissa Marie Laforge sold 855 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the transaction, the insider owned 7,904 shares in the company, valued at C$633,584.64. The trade was a 9.76% decrease in their ownership of the stock. Also, Director Mayank Mulraj Ashar sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total value of C$390,400.00. Following the completion of the sale, the director directly owned 45,000 shares of the company’s stock, valued at C$3,513,600. The trade was a 10.00% decrease in their position. Insiders sold 8,855 shares of company stock worth $695,547 over the last three months. 0.10% of the stock is currently owned by corporate insiders.

Enbridge Company Profile

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.