RE:RE:RE:ENB & BoardMaybe, recession fears seem to be becoming baked in and the bottom is either here or near. Historically this is when ENB dips the most but historically they haven't had an NCIB in place before.
Don't be surprised to see ENB buck the trend, They did it in February of this year already and every ER since..
Like I said ENB is an easy hold for me but if you miss it, you miss it.
Go Enbridge! ;-)
silkos wrote: ENB dropped to high $48 within the last month just like that. I have a feeling that the end of year selling together with the never ending recession dangers might bring us a new 52w low just in time for the holidays.
Quintessential1 wrote: IENB has definately set a new floor bouncing at $47.65 last Nov/Dec when it hit that 52 week low.
This is a great chart showing all of this. Make sure to click it to a fullscreen chart and Weeky for a longterm view.
https://www.marketscreener.com/quote/stock/ENBRIDGE-INC-1409882/charts/ As you can see ENB is desperately try to climb back above the blue trend line. It at least is still following it.
I believe it also set a new floor bouncing at $49.33 or so. To push it further down it will take a bunch of catalysts. The FED rate rising (probably going to happen but should be baked in by now) and ENB ER miss (possible but not to the extent needed) and massive market selloff (again possible especially with tax loss selling season)
Being the eternal ENB optimist I of course do think that will happen for these reasons:
The trend is your firiend and the share price obviouly wants to follow the upward trend which will be somwhere in the $52 range by Nov/Dec
The NCIB. ENB is executing the NCIB and oviously accelerating it at $50 or below. ENB is also aware of their stock's trading history and have kept that dry powder in reserve for just such an opportunity. Buyback increases EPS and lowers the Payout Ratio while setting newshare price floors by raising the share price at low buying levels.
The DIV At $49 ENB is yielding over 7% and the market just can't layoff buying a bluechip paying that high of a yield.
As for me it would have to drop lower than that 52 week low for me to add as I have a full position and see no point in averaging up.
Collecting the that big div is easy money. This is one of the easiest holds in my portfolio.
Go Enbridge! ;-)
silkos wrote: Fiddy is the same fiddy as always. Not sure why Q engages in responding to all F's posts, that's not my business. Ignore is an option. I prefer void rather that clutter. No offence to anyone.
Question re ENB how low do you think it will go come Nov / Dec? I think it might go below $48. Care to comment if you believe it might test the 52w low @$46.88?