ENB Stock Summary and Trading Ideas (Enbridge | NYSE:ENB)

Enbridge owns extensive midstream assets that transport hydrocarbons across the us and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company. The firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

Enbridge trades on the NYSE stock market under the symbol ENB.

As of May 15, 2024, ENB stock price was flat at $36.99 with 3,912,000 million shares trading.

ENB has a beta of 0.73, meaning it tends to be less sensitive to market movements. ENB has a correlation of 0.21 to the broad based SPY ETF.

ENB has a market cap of $78.62 billion. This is considered a Large Cap stock.

Last quarter Enbridge reported $8 billion in Revenue and $.68 earnings per share. This fell short of revenue expectation by $-761 million and exceeded earnings estimates by $.08.

In the last 3 years, ENB stock traded as high as $47.67 and as low as $31.03.

The top ETF exchange traded funds that ENB belongs to (by Net Assets): MLPX, FVD, TPYP, GCOW, EMLP.

ENB stock has underperformed the market in the last year with a return of +3.8%, while SPY returned +29.9%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in ENB shares. However, ENB has outperformed the market in the last 3 month and 2 week periods, returning +11.5% and +6.5%, while SPY returned +5.8% and +5.9%, respectively. This indicates ENB has been having a stronger performance recently.

ENB support price is $36.51 and resistance is $37.47 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ENB stock will trade within this expected range on the day.