28-Mar-2024
Russian cuts to crude output may bring $100 oil, J.P. Morgan says
Seeking Alpha News (Wed, 27-Mar 2:07 PM ET)
Enbridge (ENB) Receives a Buy from CIBC
TipRanks (Wed, 27-Mar 9:45 AM ET)
Stifel Nicolaus Keeps Their Hold Rating on Enbridge (ENB)
TipRanks (Wed, 27-Mar 8:25 AM ET)
Enbridge’s Strategic JV in the USGC Enhances Position and Cash Flow, Affirms Buy Rating
TipRanks (Wed, 27-Mar 8:25 AM ET)
Scotiabank Keeps Their Hold Rating on Enbridge (ENB)
TipRanks (Wed, 27-Mar 6:55 AM ET)
Enbridge forms U.S. Gulf Coast gas supply JV with MPLX, WhiteWater/I Squared Capital
Seeking Alpha News (Tue, 26-Mar 8:28 AM ET)
PRNewswire (Tue, 26-Mar 7:00 AM ET)
Enbridge to Enter into JV Connecting Permian Basin Natural Gas Supply to Growing LNG and USGC Demand
PRNewswire (Tue, 26-Mar 6:59 AM ET)
Enbridge Completes Acquisition of The East Ohio Gas Company
PRNewswire (Thu, 7-Mar 7:30 AM ET)
Dominion Energy Announces Closing of Sale of Ohio Natural Gas Distribution Company
PRNewswire (Thu, 7-Mar 7:30 AM ET)
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 March 28, 2024, ENB stock price climbed to $36.18 with 3,624,330 million shares trading.
ENB has a beta of 0.81, meaning it tends to be less sensitive to market movements. ENB has a correlation of 0.24 to the broad based SPY ETF.
ENB has a market cap of $76.90 billion. This is considered a Large Cap stock.
Last quarter Enbridge reported $8 billion in Revenue and $.47 earnings per share. This fell short of revenue expectation by $-2 billion and missed earnings estimates by -$.03.
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, GCOW, PID, TPYP.
ENB has underperformed the market in the last year with a price return of +6.1% while the SPY ETF gained +33.6%. ENB has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +2.2% and +0.1%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
ENB support price is $35.68 and resistance is $36.30 (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.