The stock of Enbridge Income Fund Holdings Inc (TSE:ENF) gapped up by $0.02 today and has $43.60 target or 26.00% above today’s $34.60 share price. The 6 months technical chart setup indicates low risk for the $4.31 billion company. The gap was reported on Oct, 19 by Barchart.com. If the $43.60 price target is reached, the company will be worth $1.12B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 175,491 shares traded hands. Enbridge Income Fund Holdings Inc (TSE:ENF) has risen 13.68% since March 14, 2016 and is uptrending. It has outperformed by 8.13% the S&P500.
Enbridge Income Fund Holdings Inc (TSE:ENF) Ratings Coverage
Out of 7 analysts covering Enbridge Income Fund (TSE:ENF), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Enbridge Income Fund has been the topic of 13 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was downgraded by Credit Suisse on Thursday, February 4 to “Neutral”. The stock of Enbridge Income Fund Holdings Inc (TSE:ENF) earned “Outperform” rating by National Bank Canada on Monday, November 9. The rating was initiated by BMO Capital Markets with “Outperform” on Thursday, December 3. The stock of Enbridge Income Fund Holdings Inc (TSE:ENF) earned “Neutral” rating by JP Morgan on Tuesday, December 15.
More notable recent Enbridge Income Fund Holdings Inc (TSE:ENF) news were published by: Marketwatch.com which released: “Enbridge Income Fund Holdings Inc. Announces Monthly Dividend” on October 17, 2016, also Finance.Yahoo.com with their article: “Enbridge Inc. and Enbridge Income Fund Holdings Inc. to Webcast 2016 Third …” published on October 13, 2016, Marketwired.com published: “Enbridge Income Fund Holdings Inc. Announces $1.075-Billion Sale of South …” on September 29, 2016. More interesting news about Enbridge Income Fund Holdings Inc (TSE:ENF) were released by: Marketwired.com and their article: “Enbridge Income Fund Holdings Inc. Reports Second Quarter 2016 Results …” published on July 29, 2016 as well as Marketwired.com‘s news article titled: “Enbridge Income Fund Holdings Inc. Reports Strong 2015 Results” with publication date: February 19, 2016.
Enbridge Income Fund Holdings Inc., through its investment in Enbridge Income Fund, holds energy infrastructure assets. The company has a market cap of $4.31 billion. The Company’s business is limited to ownership of its interest in Enbridge Income Fund . It has a 17.03 P/E ratio. The Fund’s objective is to pay out a high proportion of available cash in the form of dividends to shareholders.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.