What’s Enbridge Inc Upside After Today’s Gap Up?

 What's Enbridge Inc Upside After Today's Gap Up?

The stock of Enbridge Inc (TSE:ENB) gapped up by $0.11 today and has $59.36 target or 4.00% above today’s $57.08 share price. The 9 months technical chart setup indicates low risk for the $52.90 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $59.36 price target is reached, the company will be worth $2.12 billion 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 834,422 shares traded hands. Enbridge Inc (TSE:ENB) has risen 8.00% since April 26, 2016 and is uptrending. It has outperformed by 2.77% 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 0.91% above today’s ($57.08) stock price. Enbridge Inc. has been the topic of 26 analyst reports since September 11, 2015 according to StockzIntelligence Inc. On Wednesday, September 7 the stock rating was upgraded by National Bank Canada to “Outperform”. The firm earned “Buy” rating on Friday, September 9 by Goldman Sachs. As per Friday, November 4, the company rating was maintained by Scotia Capital. RBC Capital Markets maintained the shares of ENB in a report on Tuesday, June 28 with “Outperform” rating. The stock of Enbridge Inc (TSE:ENB) has “Sector Perform” rating given on Friday, November 6 by National Bank Canada. Goldman Sachs downgraded Enbridge Inc (TSE:ENB) on Wednesday, July 20 to “Neutral” rating. The stock of Enbridge Inc (TSE:ENB) earned “Outperform” rating by RBC Capital Markets on Thursday, January 21. TD Securities maintained the stock with “Buy” rating in Friday, November 4 report. The stock of Enbridge Inc (TSE:ENB) has “Neutral” rating given on Thursday, September 1 by Bank of America. JP Morgan initiated the shares of ENB in a report on Tuesday, December 15 with “Overweight” rating.

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, Business.Financialpost.com published: “Enbridge’s Line 3 faces resistance in U.S. as Ottawa set to rule on pipeline” on November 23, 2016. More interesting news about Enbridge Inc (TSE:ENB) were released by: Bloomberg.com and their article: “Trudeau Approves Kinder Morgan’s Trans Mountain Pipeline” published on November 29, 2016 as well as Fool.ca‘s news article titled: “Dividend Investors: Should You Buy BCE Inc. or Enbridge Inc. Today?” with publication date: November 17, 2016.

Enbridge Inc. is an energy transportation and distribution company. The company has a market cap of $52.90 billion. The Firm operates through five divisions: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. It has a 28.09 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.

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.

Related posts

Leave a Comment