Enbridge Inc Stock Is Increasing Now. What To Expect?

 Enbridge Inc Stock Is Increasing Now. What To Expect?

The stock of Enbridge Inc (TSE:ENB) gapped up by $0.25 today and has $70.39 target or 21.00% above today’s $58.17 share price. The 9 months technical chart setup indicates low risk for the $55.03B company. The gap was reported on Nov, 21 by Barchart.com. If the $70.39 price target is reached, the company will be worth $11.56B 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 746,364 shares traded hands. Enbridge Inc (TSE:ENB) has risen 9.81% since April 15, 2016 and is uptrending. It has outperformed by 5.95% the S&P500.

Enbridge Inc (TSE:ENB) Ratings Coverage

Out of 10 analysts covering Enbridge Inc. (TSE:ENB), 9 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 90% are positive. $71 is the highest target while $50 is the lowest. The $57.60 average target is -0.98% below today’s ($58.17) stock price. Enbridge Inc. has been the topic of 26 analyst reports since September 11, 2015 according to StockzIntelligence Inc. The stock of Enbridge Inc (TSE:ENB) earned “Neutral” rating by Bank of America on Thursday, September 1. The stock of Enbridge Inc (TSE:ENB) has “Outperform” rating given on Thursday, January 21 by RBC Capital Markets. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, June 28. TD Securities maintained Enbridge Inc (TSE:ENB) on Friday, November 4 with “Buy” rating. Goldman Sachs downgraded Enbridge Inc (TSE:ENB) rating on Wednesday, July 20. Goldman Sachs has “Neutral” rating and $54 price target. National Bank Canada downgraded the shares of ENB in a report on Friday, November 6 to “Sector Perform” rating. The firm has “Outperform” rating by RBC Capital Markets given on Friday, September 2. The rating was initiated by JP Morgan on Tuesday, December 15 with “Overweight”. National Bank Canada upgraded the stock to “Outperform” rating in Wednesday, September 7 report. Scotia Capital maintained the stock with “Outperform” rating in Friday, November 4 report.

More notable recent Enbridge Inc (TSE:ENB) news were published by: Wsj.com which released: “Canadian Pipeline Operator Enbridge Posts Smaller Loss” on November 03, 2016, also Forbes.com with their article: “Ex-Div Reminder for Enbridge (ENB)” published on November 08, 2016, Fool.ca published: “Dividend Investors: Should You Buy BCE Inc. or Enbridge Inc. Today?” on November 17, 2016. More interesting news about Enbridge Inc (TSE:ENB) were released by: Fool.ca and their article: “3 Things Enbridge Inc.’s CEO Wants You to Know About How it Will Grow the Dividend” published on November 10, 2016 as well as Fool.ca‘s news article titled: “Enbridge Inc. Is a Dividend-Growth King” with publication date: November 02, 2016.

Enbridge Inc. is an energy transportation and distribution company. The company has a market cap of $55.03 billion. The Firm operates through five divisions: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. It has a 28.63 P/E ratio. The Firm operates the crude oil and liquids transportation system in Canada and the United States.

ENB.TO Company Profile

Enbridge Inc. (Enbridge), incorporated on December 15, 1987, is an energy transportation and distribution company. The Firm operates through five divisions: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Firm operates the crude oil and liquids transportation system in Canada and the United States. The Firm is also involved in natural gas gathering, transmission and midstream businesses. It provides natural gas distribution services in Ontario, Quebec, New Brunswick and New York State. As a generator of energy, Enbridge has interests in over 2,200 megawatts (MW) of renewable and alternative energy generating capacity and is involved in holding its interests in wind, solar and geothermal power.

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