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Downgrade Alert for Enbridge (ENB)

By Shiri Gupta

Enbridge (NYSE:ENB) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $53.34 on volume of 563,000 shares, below average daily volume of 863,000.

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.

Enbridge (NYSE:ENB) defies analysts with a current price ($53.34) 0.2% above its average consensus price target of $53.21. Enbridge shares have support at the 50-day moving average (MA) of $48.80 and additional support at the 200-day MA of $48.41.

In the past 52 weeks, shares of Enbridge have traded between a low of $42.14 and a high of $57.19 and closed yesterday at $53.34, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Enbridge and will alert subscribers who have ENB in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades enbridge

Ticker(s): ENB