Enbridge Inc (ENB) : Analyst Rating Update

Enbridge Inc (ENB) : 4 analysts are covering Enbridge Inc (ENB) and their average rating on the stock is 1.5, which is read as a Strong Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Enbridge Inc (ENB) has been rated by 3 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $60 and the lowest price target forecast is $44. The average forecast of all the analysts is $49.49 and the expected standard deviation is $9.11.

Enbridge Inc (NYSE:ENB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.93 and $41.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.35. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.18, notching a gain of 0.09% for the day. The total traded volume was 1,187,315 . The stock had closed at $42.14 on the previous day.

Also, Brokerage firm Barclays assumes its rating on Enbridge Inc (NYSE:ENB). In a research note issued to the investors, the brokerage major maintains price-target of $60 per share.The shares have been rated Overweight. The rating by the firm was issued on April 12, 2016. The company shares have dropped -7.87% from its 1 Year high price. On Jul 9, 2015, the shares registered one year high at $46.39 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $41.38 and the 200 Day Moving Average price is recorded at $37.34.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.