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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 $34.74 on volume of 1.5 million shares, below average daily volume of 1.9 million.

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.

In the past 52 weeks, shares of Enbridge have traded between a low of $27.43 and a high of $54.43 and closed yesterday at $34.74, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.7%.

There is potential upside of 44.2% for shares of Enbridge based on a current price of $34.74 and an average consensus analyst price target of $50.10. The stock should find resistance at its 200-day moving average (MA) of $41.26, as well as support at its 50-day MA of $32.64.

SmarTrend is monitoring the recent change of momentum in Enbridge. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Enbridge in search of a potential trend change.

Keywords: analyst upgrades/downgrades enbridge

Ticker(s): ENB