What's behind Enbridge's latest 1.5% stock surge?

Traders Union
All News
Stocks
Enbridge rises 1.48% today to C$67.15

Highlights

Enbridge stock met third quarter adjusted earnings expectations at C$0.49 per share, an increase from the prior year.
The company maintained 2026 adjusted EBITDA and distributable cash flow targets, supporting a 31-year annual dividend growth record with a quarterly dividend of C$0.97 per share.
Shares remain under bearish pressure below key moving averages, with a projected five-day trading range of C$65.2 to C$69.11 and mixed momentum signals.

Guidance consistency and equity raise bolster sentiment amid strong dividend record

Enbridge reported adjusted earnings of C$0.49 per share for the third quarter of 2026, meeting consensus estimates and showing an increase from a year earlier. The company reaffirmed its 2026 adjusted EBITDA guidance and distributable cash flow targets, extending its streak of met guidance to 21 years. Enbridge is also making progress on its C$38 billion growth backlog and raised C$3 billion in equity to support upcoming projects and acquisitions. The board declared a quarterly dividend of C$0.97 per share, continuing a 31-year record of annual dividend growth.

Anton Kharitonov, expert at Traders Union, notes that Enbridge’s post-earnings bounce is underwhelming. He sees technicals remaining bearish, with ENB still trading below all major moving averages. Momentum signals are muddled, showing oversold conditions but lacking evidence of sustainable buying. Kharitonov points out that despite steady earnings, persistent price pressure raises doubts about near-term recovery. He states, "A continued lack of upside catalysts and weak technicals suggest caution for anyone considering entry here."

Viktoras Karapetjanc, expert at Traders Union, believes Enbridge’s commitment to dividend growth and strong cash flow guidance underpins its long-term attractiveness. He highlights the company’s ability to consistently meet targets and progress on its expansive growth pipeline. Karapetjanc sees opportunities emerging if ENB breaks above C$67.6, signaling a shift in momentum. He comments, "Resilient fundamentals and capital deployment strategy keep the bullish structure intact — I expect further upside once resistance is cleared."

Sholanke Dele, market strategist, points out that the flat post-earnings trade signals market hesitation. He sees lack of trend conviction, with mixed signals from oscillators and continued dominance of sellers intraday. For Dele, near-term downside risk prevails unless ENB shows a decisive recovery above C$67.6. He concludes, "With sentiment still fragile and bears in control, the stock remains vulnerable to further selling in the short term."

Bearish trend and rangebound trade as mixed momentum clouds direction

ENB remains below the 20-day, 50-day, and 200-day moving averages (C$67.61, C$67.6, and C$72.59 respectively), indicating ongoing bearish pressure across all timeframes. The nearest support is at the Ichimoku Kijun level of C$67.11, with resistance marked by the 50-day moving average at C$67.6. The longer-term trend is bearish, as the MA-50 is below the MA-200. Momentum signals are mixed: MACD suggests a strong buy, ADX shows weak trend strength and a sell bias, RSI is neutral, and both the Stochastic RSI and CCI are in their oversold zones. Negative Bull/Bear Power highlights intraday selling dominance. Trading was largely flat after the open, with price action confined to a tight range and oscillators showing signs of selling exhaustion but trend signals lacking clear direction.

Earlier, analysts noted that Enbridge faced sustained downside risk despite solid earnings, with technical indicators favoring continued bearish pressure. The latest price action and mixed momentum signals in the current context confirm this cautious outlook, with C$67.11 remaining a critical support level to monitor for signs of renewed weakness.

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

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.