Enbridge (TSE:ENB) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Enbridge Inc. shares crossed above their 200-day moving average during trading, hitting a peak of C$67.91 before closing at C$67.61.
• ATB Capital and Argus upgraded their ratings for Enbridge, with target prices raised to C$67.00 and a "strong-buy" rating respectively, reflecting positive analyst sentiment.
• The company recently declared a quarterly dividend of $0.9425 per share, indicating an annualized dividend of $3.77 and a dividend yield of 5.6%.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$63.17 and traded as high as C$67.91. Enbridge shares last traded at C$67.61, with a volume of 4,836,799 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on ENB shares. Argus upgraded Enbridge to a "strong-buy" rating in a report on Tuesday, August 12th. National Bankshares raised their price objective on Enbridge from C$64.00 to C$65.00 and gave the company a "sector perform" rating in a report on Tuesday, August 5th. ATB Capital raised their price objective on Enbridge from C$66.00 to C$67.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating and raised their price objective for the company from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$67.07.

Enbridge Stock Up 0.9%

The firm has a market capitalization of C$149.06 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 1.72 and a beta of 0.90. The business has a 50 day simple moving average of C$64.94 and a 200-day simple moving average of C$63.31. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Monday, September 1st were paid a $0.9425 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.5%. Enbridge's dividend payout ratio (DPR) is 130.81%.

About Enbridge

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.