What’s Propelling Enbridge Income Fund Holdings Inc to Reach 52-Week High?

 What's Propelling Enbridge Income Fund Holdings Inc to Reach 52 Week High?

The stock of Enbridge Income Fund Holdings Inc (TSE:ENF) hit a new 52-week high and has $56.07 target or 63.00% above today’s $34.40 share price. The 6 months bullish chart indicates low risk for the $4.29B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $56.07 price target is reached, the company will be worth $2.70 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 32,987 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. $42 is the highest target while $34 is the lowest. The $35.92 average target is 4.42% above today’s ($34.4) stock price. Enbridge Income Fund has been the topic of 13 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The company was initiated on Thursday, December 3 by BMO Capital Markets. Credit Suisse downgraded Enbridge Income Fund Holdings Inc (TSE:ENF) on Thursday, February 4 to “Neutral” rating. The firm has “Outperform” rating by National Bank Canada given on Monday, November 9. On Tuesday, December 15 the stock rating was initiated by JP Morgan with “Neutral”.

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 $4.29 billion. The Company’s business is limited to ownership of its interest in Enbridge Income Fund . It has a 16.94 P/E ratio. The Fund’s objective is to pay out a high proportion of available cash in the form of dividends to shareholders.

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