Enbridge stock holds steady after revenue grows 22% year-over-year

Traders Union
All News
Financial News
Enbridge gains 0.64% today to C$72.37

Highlights

Canada approved Enbridge's C$4 billion Sunrise Expansion, adding 139 km of pipeline to boost natural gas transport by 300 million cubic feet per day.
Enbridge reported C$47.5 billion in twelve-month revenue, 22% annual growth, and has raised its dividend for 23 consecutive years with a 5.42% yield.
Shares trade below near-term moving averages with mild oversold technicals; price is expected to range C$71.40–C$73.75, with a bullish breakout likely above C$73.86.

Expansion approval and record execution driving sustained project growth

The Canadian government has approved Enbridge's C$4 billion Sunrise Expansion Program in British Columbia, enabling the addition of 139 kilometers of new pipeline and upgrades to existing natural gas facilities. This expansion will boost transportation capacity by up to 300 million cubic feet per day to meet rising energy demand in the province. Enbridge recently reported C$47.5 billion in revenue for the last twelve months, achieving 22% growth and maintaining its record of meeting or exceeding guidance for 20 consecutive years. The company continues to grow its project backlog and has increased its dividend for 23 straight years, with a current yield of 5.42%.

Mixed momentum as key resistance persists amid mild oversold signals

ENB faces immediate resistance at the SMA-20 (C$73.84), SMA-50 (C$73.21), and Ichimoku Kijun (C$73.86) levels, while the SMA-200 at C$67.71 serves as major support. Technical momentum indicators are mixed: MACD and ADX show fading bullish momentum, with RSI at 41.90, CCI at -91.07, and BBP at -0.51 all suggesting mild oversold conditions. Stoch RSI stands at 32.96, reflecting some near-term rebound potential, though indicator signals remain divergent. The HMA indicates a strong buy, but the Awesome Oscillator is unsupportive, and intraday price action is muted within the C$71.93 – C$72.48 band.

Sideways bias expected as breakout resistance caps upside

ENB is expected to remain in a relatively tight volatility band between C$71.40 and C$73.75 in the short term. There is a high probability of an upward move, although a decisive break above C$73.86 would be needed to confirm a bullish scenario. A failure to hold above C$71.40 could trigger further declines toward weekly support. The baseline forecast anticipates the stock fluctuating sideways within this range.

Viktoras Karapetjanc, expert at Traders Union, sees Enbridge Inc. benefiting from strong fundamentals and positive regulatory developments. The company’s proven revenue growth, rising dividends, and expanding project backlog signal long-term confidence. However, technical signals suggest price may stay in a tight range short term, awaiting a decisive move. He believes constructive momentum should develop if resistance levels break. "With robust fundamentals and supportive news, I expect ENB to attempt an upward breakout if market sentiment improves."

Earlier, analysts noted that Enbridge was consolidating amid persistent seller dominance, legal uncertainties, and oversold technical signals, with attention focused on the need for a clear breakout to shift sentiment. With the company now advancing a major expansion project and demonstrating continued earnings and dividend strength, traders should watch for confirmation of a sustained move above immediate resistance as an early sign of renewed bullish momentum.

Source of Data: ENB Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.