Company Shares of Enbridge Inc Drops by -1.93%

Enbridge Inc (NYSE:ENB) has tumbled 1.93% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.06% in the last four weeks. The stocks have underperformed the S&P 500 by 0.76% during the past week but Enbridge Inc (NYSE:ENB) it has outperformed the index in 4 weeks by 1.13%.

Enbridge Inc (NYSE:ENB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $40.89 and $40.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $41.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.12, notching a gain of 1.21% for the day. The total traded volume was 2,540,378 . The stock had closed at $40.63 on the previous day.

The company shares have dropped -12.02% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $49.09 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $40.70 and the 200 Day Moving Average price is recorded at $36.42.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Barclays, assumes their rating on the shares of Enbridge Inc (NYSE:ENB). Barclays has a Overweight rating on the shares. As per the latest report, the brokerage house maintains the price target to $60 per share. The rating by the firm was issued on April 12, 2016. Institutional Investors own 67.7% of Enbridge Inc shares.

Enbridge Inc. (Enbridge) is an energy transportation and distribution company. The Company operates in five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. Liquids Pipelines segment owns and operates crude oil and other liquid hydrocarbons pipelines and terminals. Gas Distribution consists of the Companys natural gas utility operations. Gas Pipelines, Processing and Energy Services segment consists of investments in natural gas pipelines, gathering and processing facilities and the Companys energy services businesses, along with renewable energy and transmission facilities. Sponsored Investments includes the Companys 33.7% economic interest in Enbridge Energy Partners, L.P. (EEP), and Enbridges interests in both the Eastern Access and Lakehead System Mainline expansion projects held through Enbridge Energy, Limited Partnership (EELP). The Corporate segment includes an investment in Noverco Inc.

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