Downgrade Alert for Enbridge (ENB)
Enbridge (NYSE:ENB) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $46.60 on volume of 495,000 shares, below average daily volume of 752,000.
Potential upside of 4.4% exists for Enbridge, based on a current level of $46.60 and analysts' average consensus price target of $48.63. The stock should discover initial support at its 50-day moving average (MA) of $43.98 and subsequent support at its 200-day MA of $42.80.
In the past 52 weeks, shares of Enbridge have traded between a low of $39.69 and a high of $48.41 and closed yesterday at $46.60, which is 17% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.1%.
Enbridge Inc. provides energy transportation, distribution, and related services in North America and internationally. The Company operates a crude oil and liquids pipeline system, is involved in international energy projects, and is involved in natural gas transmission and midstream businesses. Enbridge also distributes natural gas and electricity, and provides retail energy products.
SmarTrend recommended that subscribers consider buying shares of Enbridge on February 14th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.21. Since that recommendation, shares of Enbridge have risen 7.9%. We continue to monitor ENB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades enbridge