$3.2 billion crude asset acquisitions support Enbridge stock at C$65.14 support

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Enbridge falls 0.69% to C$65.74 today

Highlights

Enbridge reported FY2025 earnings attributable to controlling interests of CAD 7.49 billion before preference-share dividends, confirming profitability for the period.
Management is undertaking CAD 3.2 billion in crude acquisitions and maintaining a 4.5x to 5.0x debt to EBITDA target, focusing on asset growth with disciplined leverage.
Shares of Enbridge trade below key moving averages with a high probability of further downside, projected between C$65.14 and C$66.65.

Profitability and leverage targets reinforce stability amid asset expansion

Enbridge reported FY2025 earnings attributable to controlling interests of CAD 7.49 billion for the year ended December 31, 2025, before preference-share dividends, confirming its recent period profitability and operating strength, according to Kalkine. This earnings outcome provides markets with a reference point for financial stability and shapes expectations around future cash flow distributions. In parallel, the company is progressing with $3.2 billion in crude acquisitions while maintaining a 4.5x to 5.0x debt/EBITDA target, signaling both asset growth and an emphasis on prudent leverage. Upcoming scheduled earnings on November 6, 2026, as reported by Finance Yahoo, remain a focal point for further investor attention.

Support levels and indicator divergence signal momentum uncertainty

ENB/CAD is trading below the MA-20 (C$65.75), MA-50 (C$65.98), and MA-200 (C$72.28) levels, with the Ichimoku Kijun at C$65.69 acting as the nearest support. Momentum indicators present a mixed picture: RSI currently signals Buy, while both CCI and Stochastic RSI are in overbought territory. Bull/Bear Power also reflects overbought conditions, suggesting buyers were recently dominant on an intraday basis. ADX signals Sell, MACD remains Neutral, and the Awesome Oscillator supports ongoing upward momentum. This technical setup reveals a clear divergence between price movement and several indicators.

Limited breakout odds as range persists and downside risk rises

In the short term, ENB/CAD is expected to remain range-bound between C$65.14 and C$66.65, representing the typical volatility band relative to current levels. The probability of an upward breakout is seen as very low, while downside risk remains pronounced given recent price action and indicator divergence. If the upper band at C$66.65 is breached, further upside momentum could develop. Conversely, a move below C$65.14 would reinforce the existing downtrend and may trigger additional weakness.

Viktoras Karapetjanc, expert at Traders Union, observes that Enbridge’s strong FY2025 earnings performance underpins a solid fundamental outlook. He sees the ongoing asset acquisitions and conservative leverage maintaining investor confidence even as the stock trades below key moving averages. While technical signals are mixed and near-term momentum appears limited, the analyst believes the broader market narrative remains constructive due to resilient financials. "Fundamentals are sound, and any pullback is likely to offer long-term investors a fresh entry point."

Earlier, analysts noted that Enbridge stock was experiencing ongoing technical weakness and a lack of clear upward momentum ahead of upcoming earnings releases. The current analysis adds a new dimension by highlighting indicator divergence and renewed overbought signals, suggesting that traders should watch for a potential shift if either C$66.65 resistance or C$65.14 support is breached in the near term.

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.