After Forming Inverse H&S Pattern, Is Enbridge Inc (USA) (ENB)’s Near-Term Analysis Positive?

September 17, 2017 - By Vivian Currie

The stock of Enbridge Inc (USA) (ENB) formed H&SI with $43.19 price target or 5.00 % above the current $41.13 share price. The 6 months Head & Shoulders Inverse reveals low risk for the $67.70B company. This trade was featured by Faxor.com on Sep, 17. If the $43.19 target price is reached, the company’s valuation will be $3.39 billion more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock decreased 0.05% or $0.02 on September 15, reaching $41.13. About 1.85 million shares traded or 5.71% up from the average. Enbridge Inc (USA) (NYSE:ENB) has declined 0.40% since September 17, 2016 and is downtrending. It has underperformed by 17.10% the S&P500.

Investors wait Enbridge Inc (USA) (NYSE:ENB) to report on November, 2. its quarterly earnings Wall Street analysts expect $0.36 EPS, $0.00 or 0.00 % from last year’s $0.36 same quarter earnings. This translates into $592.56M profit for ENB giving the stock a 28.56 P/E. This is assuming the current $0.36 EPS is accurate. Enbridge Inc (USA)’s Wall Street analysts see 20.00 % EPS growth, taking into account the $0.30 EPS reproted in the previous quarter,

Enbridge Inc (USA) (NYSE:ENB) Ratings Coverage

Among 15 analysts covering Enbridge Inc. (NYSE:ENB), 6 have Buy rating, 0 Sell and 9 Hold. Therefore 40% are positive. Enbridge Inc. had 21 analyst reports since August 4, 2015 according to SRatingsIntel. The stock of Enbridge Inc (USA) (NYSE:ENB) earned “Outperform” rating by Credit Suisse on Tuesday, March 14. The rating was maintained by Morgan Stanley with “Equal-Weight” on Friday, July 14. The rating was reinitiated by Citigroup with “Neutral” on Wednesday, January 18. The stock of Enbridge Inc (USA) (NYSE:ENB) has “Neutral” rating given on Friday, June 23 by JP Morgan. The rating was reinitiated by BMO Capital Markets with “Outperform” on Wednesday, March 2. The rating was initiated by J.P. Morgan with “Hold” on Friday, June 23. Credit Suisse maintained Enbridge Inc (USA) (NYSE:ENB) on Tuesday, March 8 with “Neutral” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, October 9 report. As per Thursday, September 1, the company rating was initiated by Bank of America. The stock of Enbridge Inc (USA) (NYSE:ENB) has “Market Perform” rating given on Monday, April 3 by Wells Fargo.

More notable recent Enbridge Inc (USA) (NYSE:ENB) news were published by: Fool.ca which released: “Enbridge Inc.: Buy This Dividend Juggernaut” on June 12, 2017, also Fool.ca with their article: “Enbridge Inc. vs. Hydro One Ltd.: Which Is Better?” published on August 11, 2017, Fool.ca published: “Enbridge Inc. Really Deserves a Spot in Your TFSA” on August 21, 2017. More interesting news about Enbridge Inc (USA) (NYSE:ENB) were released by: Fool.ca and their article: “Energize Your Portfolio With Enbridge Inc.” published on July 13, 2017 as well as Fool.ca‘s news article titled: “Buy and Forget Enbridge Inc.” with publication date: July 28, 2017.

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